IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,740 shares of the company’s stock after selling 3,429 shares during the period. Texas Permanent School Fund Corp’s holdings in IDEXX Laboratories were worth $6,694,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $512,190,000. Capital Research Global Investors acquired a new position in IDEXX Laboratories during the 4th quarter worth $135,910,000. TD Asset Management Inc grew its stake in shares of IDEXX Laboratories by 178.8% in the fourth quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock worth $144,317,000 after purchasing an additional 166,751 shares in the last quarter. Point72 Asset Management L.P. bought a new position in IDEXX Laboratories in the 4th quarter valued at about $78,001,000. Finally, Jupiter Asset Management Ltd. acquired a new position in IDEXX Laboratories during the 1st quarter valued at about $55,425,000. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

IDEXX Laboratories Trading Down 1.1 %

Shares of NASDAQ IDXX opened at $490.26 on Thursday. 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 12 month low of $372.50 and a 12 month high of $583.39. The company has a market cap of $40.49 billion, a price-to-earnings ratio of 47.46, a P/E/G ratio of 4.02 and a beta of 1.33. The business has a fifty day simple moving average of $480.50 and a 200-day simple moving average of $502.25.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $2.67 earnings per share. IDEXX Laboratories’s quarterly revenue was up 6.4% compared to the same quarter last year. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current 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.