Daiwa Securities Group Inc. Acquires 2,241 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Daiwa Securities Group Inc. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,952 shares of the company’s stock after acquiring an additional 2,241 shares during the quarter. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $7,285,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IDXX. Riverview Trust Co acquired a new position in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in shares of IDEXX Laboratories during the first quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories in the second quarter worth $28,000. Finally, DSM Capital Partners LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at $33,000. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of several recent research reports. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research initiated coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. Piper Sandler reduced their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, 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 report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $490.26 on Thursday. The firm has a 50 day moving average of $480.50 and a 200-day moving average of $502.25. The company has a market cap of $40.49 billion, a price-to-earnings ratio of 47.46, a price-to-earnings-growth ratio of 4.02 and a beta of 1.33. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39.

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

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.