IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 85.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206 shares of the company’s stock after selling 1,181 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in IDEXX Laboratories were worth $100,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB grew its position in shares of IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after buying an additional 1,839 shares in the last quarter. Brevan Howard Capital Management LP purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $3,183,000. Manning & Napier Advisors LLC purchased a new position in IDEXX Laboratories during the 2nd quarter worth approximately $20,418,000. First Hawaiian Bank acquired a new position in IDEXX Laboratories during the first quarter worth approximately $982,000. Finally, Meyer Handelman Co. acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $2,155,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Piper Sandler lowered their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Morgan Stanley decreased their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Finally, BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Trading Down 1.2 %

Shares of IDXX stock opened at $481.33 on Monday. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a market capitalization of $39.75 billion, a price-to-earnings ratio of 46.60, a PEG ratio of 4.10 and a beta of 1.32. The firm has a 50-day moving average price of $481.58 and a 200 day moving average price of $506.51. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

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

IDEXX Laboratories Company 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.