Envestnet Asset Management Inc. Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Envestnet Asset Management Inc. increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 216,220 shares of the company’s stock after acquiring an additional 13,532 shares during the quarter. Envestnet Asset Management Inc. owned about 0.26% of IDEXX Laboratories worth $105,342,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. raised its position in shares of IDEXX Laboratories by 21.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 632 shares of the company’s stock valued at $351,000 after purchasing an additional 110 shares during the period. Panagora Asset Management Inc. raised its holdings in IDEXX Laboratories by 2.8% during the 4th quarter. Panagora Asset Management Inc. now owns 1,523 shares of the company’s stock valued at $845,000 after acquiring an additional 41 shares during the period. Financial Advocates Investment Management purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth $269,000. Independent Advisor Alliance boosted its holdings in shares of IDEXX Laboratories by 26.3% in the fourth quarter. Independent Advisor Alliance now owns 2,638 shares of the company’s stock worth $1,464,000 after acquiring an additional 550 shares during the period. Finally, Norges Bank purchased a new position in shares of IDEXX Laboratories in the fourth quarter valued at $512,190,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Up 2.2 %

NASDAQ IDXX opened at $511.38 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. The stock’s 50-day simple moving average is $481.74 and its two-hundred day simple moving average is $500.27. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a market capitalization of $42.23 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data 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 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 business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 earnings per share. Research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IDXX shares. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Piper Sandler lowered their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus reduced their price target 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently 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.