Profund Advisors LLC Sells 137 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Profund Advisors LLC cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,258 shares of the company’s stock after selling 137 shares during the quarter. Profund Advisors LLC’s holdings in IDEXX Laboratories were worth $3,536,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Capital Research Global Investors bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $135,910,000. American Century Companies Inc. boosted its stake in IDEXX Laboratories by 46.0% during the second quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after acquiring an additional 177,226 shares in the last quarter. TD Asset Management Inc boosted its stake in IDEXX Laboratories by 178.8% during the fourth quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock worth $144,317,000 after acquiring an additional 166,751 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in IDEXX Laboratories in the fourth quarter worth about $78,001,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $55,425,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 2.0 %

IDXX stock opened at $506.74 on Monday. The stock 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 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 1-year low of $372.50 and a 1-year high of $583.39. The business has a fifty day moving average price of $483.85 and a 200-day moving average price of $498.74.

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 analysts’ consensus estimates of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s quarterly 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 analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IDXX. BTIG Research began coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target on the stock. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus reduced their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Piper Sandler lowered their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $582.25.

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.