Axa S.A. Sells 15,030 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Axa S.A. cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,691 shares of the company’s stock after selling 15,030 shares during the period. Axa S.A.’s holdings in IDEXX Laboratories were worth $43,697,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Riverview Trust Co purchased a new stake in shares of IDEXX Laboratories in the first quarter worth approximately $26,000. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in IDEXX Laboratories during the second quarter worth $27,000. Institutional & Family Asset Management LLC purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at $28,000. Finally, nVerses Capital LLC bought a new position in IDEXX Laboratories during the 2nd quarter valued at $49,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Trading Down 1.7 %

Shares of IDEXX Laboratories stock opened at $497.76 on Thursday. The company’s 50-day moving average price is $484.48 and its 200-day moving average price is $497.97. The company has a market cap of $41.11 billion, a price-to-earnings ratio of 48.19, a PEG ratio of 4.32 and a beta of 1.33. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS 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 the consensus estimate 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 for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $2.67 earnings per share. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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