Wallace Advisory Group LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wallace Advisory Group LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 479 shares of the company’s stock, valued at approximately $233,000.

Several other institutional investors have also modified their holdings of IDXX. Riverview Trust Co purchased a new position in IDEXX Laboratories in the first quarter valued at $26,000. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at about $26,000. Ridgewood Investments LLC acquired a new position in shares of IDEXX Laboratories during the second quarter worth about $27,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth approximately $28,000. Finally, nVerses Capital LLC acquired a new stake in IDEXX Laboratories in the second quarter valued at approximately $49,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Piper Sandler lowered their price objective 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Trading Down 1.3 %

IDXX opened at $505.22 on Tuesday. 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 business’s 50 day moving average is $486.74 and its two-hundred day moving average is $496.93. The firm has a market cap of $41.72 billion, a price-to-earnings ratio of 48.91, a price-to-earnings-growth ratio of 4.32 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 6th. The company reported $2.44 EPS 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 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 in the previous year, the firm earned $2.67 earnings per share. On average, research analysts predict 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.