IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,957 shares of the company’s stock after purchasing an additional 1,453 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in IDEXX Laboratories were worth $5,825,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Manchester Capital Management LLC raised its stake in IDEXX Laboratories by 11.9% during the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after acquiring an additional 20 shares in the last quarter. Atomi Financial Group Inc. raised its stake in IDEXX Laboratories by 3.4% during the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after acquiring an additional 21 shares in the last quarter. Ballentine Partners LLC raised its stake in IDEXX Laboratories by 1.9% during the 1st quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after acquiring an additional 22 shares in the last quarter. Eads & Heald Wealth Management raised its stake in IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after acquiring an additional 22 shares in the last quarter. Finally, LRI Investments LLC raised its stake in IDEXX Laboratories by 21.7% during the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after acquiring an additional 23 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on IDXX. Piper Sandler cut their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. BTIG Research initiated 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 on the stock. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Up 0.7 %

Shares of NASDAQ:IDXX opened at $500.55 on Monday. The company has a market cap of $41.34 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 4.17 and a beta of 1.33. The firm’s 50-day simple moving average is $481.18 and its 200-day simple moving average is $500.72. 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 fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results 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 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%. The firm’s revenue was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.67 EPS. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share 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.