Mackenzie Financial Corp Has $24 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mackenzie Financial Corp lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.5% in the second quarter, HoldingsChannel reports. The firm owned 49,267 shares of the company’s stock after purchasing an additional 5,863 shares during the period. Mackenzie Financial Corp’s holdings in IDEXX Laboratories were worth $24,003,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IDXX. Riverview Trust Co purchased a new stake in IDEXX Laboratories during the first quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $27,000. Institutional & Family Asset Management LLC acquired a new position in IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, nVerses Capital LLC acquired a new position in IDEXX Laboratories in the 2nd quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $511.78 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock’s 50-day moving average is $486.15 and its two-hundred day moving average is $497.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The firm has a market cap of $42.27 billion, a P/E ratio of 49.54, a PEG ratio of 4.32 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 EPS. Analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Stifel Nicolaus decreased their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.