Massachusetts Financial Services Co. MA Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Massachusetts Financial Services Co. MA grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 390,565 shares of the company’s stock after purchasing an additional 43,473 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.47% of IDEXX Laboratories worth $190,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in IDXX. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Crewe Advisors LLC acquired a new position in IDEXX Laboratories in the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories in the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC acquired a new position in IDEXX Laboratories in the second quarter valued at approximately $28,000. Finally, DSM Capital Partners LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at approximately $33,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDXX has been the topic of a number of recent analyst reports. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective on the stock. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler decreased their price objective 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 decreased their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Up 0.2 %

NASDAQ:IDXX opened at $512.27 on Wednesday. The stock has a market capitalization of $42.31 billion, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 4.17 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. The stock’s fifty day moving average is $482.42 and its two-hundred day moving average is $499.81.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). The company had revenue of $1 billion during the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $2.67 earnings per share. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS 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.