IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Raised by Xponance Inc.

Xponance Inc. increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,071 shares of the company’s stock after buying an additional 122 shares during the quarter. Xponance Inc.’s holdings in IDEXX Laboratories were worth $9,291,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Riverview Trust Co acquired a new position in shares of IDEXX Laboratories during the first quarter valued at $26,000. Crewe Advisors LLC acquired a new position in IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, nVerses Capital LLC bought a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $49,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

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

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). The firm had revenue of $1 billion for 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 company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.67 earnings per share. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IDXX. Piper Sandler cut their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research began coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Finally, Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $582.25.

About IDEXX Laboratories

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.