Benjamin Edwards Inc. Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Benjamin Edwards Inc. lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 247 shares of the company’s stock after selling 22 shares during the period. Benjamin Edwards Inc.’s holdings in IDEXX Laboratories were worth $120,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its stake in shares of IDEXX Laboratories by 15.5% during the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after buying an additional 1,839 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in IDEXX Laboratories during the 2nd quarter worth $20,418,000. Brevan Howard Capital Management LP bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth about $3,183,000. First Hawaiian Bank acquired a new stake in shares of IDEXX Laboratories in the 1st quarter valued at about $982,000. Finally, Meyer Handelman Co. bought a new position in shares of IDEXX Laboratories during the first quarter worth about $2,155,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 2.0 %

NASDAQ:IDXX opened at $506.74 on Friday. The firm has a market capitalization of $41.85 billion, a P/E ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33. The business has a 50 day simple moving average of $483.85 and a 200 day simple moving average of $499.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results 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 firm had revenue of $1 billion for 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 business’s revenue was up 6.4% compared to the same quarter last year. During the same period last year, the firm posted $2.67 EPS. Equities research analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on IDXX. StockNews.com lowered 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 report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Stifel Nicolaus reduced their price objective 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. Finally, Piper Sandler lowered their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories 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.