IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Paragon Capital Management Inc.

Paragon Capital Management Inc. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,024 shares of the company’s stock after purchasing an additional 86 shares during the quarter. Paragon Capital Management Inc.’s holdings in IDEXX Laboratories were worth $1,473,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IDXX. Riverview Trust Co acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $26,000. Crewe Advisors LLC purchased a new stake in IDEXX Laboratories in the first quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in IDEXX Laboratories during the second quarter worth approximately $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories during the second quarter worth approximately $28,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $485.97 on Thursday. The business’s 50-day simple moving average is $487.54 and its 200 day simple moving average is $496.61. The company has a market cap of $40.13 billion, a P/E ratio of 47.04, a PEG ratio of 4.32 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39.

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

Wall Street Analysts Forecast Growth

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

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.