Pacer Advisors Inc. Purchases 2,416 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pacer Advisors Inc. boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,013 shares of the company’s stock after acquiring an additional 2,416 shares during the period. Pacer Advisors Inc.’s holdings in IDEXX Laboratories were worth $5,853,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB lifted its position in shares of IDEXX Laboratories by 15.5% in the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after purchasing an additional 1,839 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter worth about $20,418,000. Brevan Howard Capital Management LP purchased a new stake in shares of IDEXX Laboratories in the 4th quarter worth about $3,183,000. First Hawaiian Bank purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $982,000. Finally, Meyer Handelman Co. purchased a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $2,155,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on IDXX. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler lowered their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, BTIG Research started coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

IDEXX Laboratories Stock Up 0.2 %

Shares of IDEXX Laboratories stock opened at $507.66 on Tuesday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The stock has a market capitalization of $41.93 billion, a PE ratio of 49.14, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a 50-day simple moving average of $484.35 and a two-hundred day simple moving average of $498.35.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $2.67 earnings per share. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets in Africa, the Asia Pacific, Canada, Europe, Latin America, and internationally. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.