IDEXX Laboratories, Inc. (NASDAQ:IDXX) Holdings Reduced by Inspire Investing LLC

Inspire Investing LLC lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,632 shares of the company’s stock after selling 1,406 shares during the period. IDEXX Laboratories accounts for about 0.6% of Inspire Investing LLC’s investment portfolio, making the stock its 26th biggest holding. Inspire Investing LLC’s holdings in IDEXX Laboratories were worth $5,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. boosted its position in IDEXX Laboratories by 3.4% during the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after acquiring an additional 21 shares during the period. Ballentine Partners LLC lifted its holdings in IDEXX Laboratories by 1.9% in the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after purchasing an additional 22 shares during the period. Eads & Heald Wealth Management grew its position in IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock valued at $1,309,000 after buying an additional 22 shares in the last quarter. LRI Investments LLC increased its stake in IDEXX Laboratories by 21.7% during the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock valued at $63,000 after buying an additional 23 shares during the period. Finally, Mather Group LLC. raised its position in shares of IDEXX Laboratories by 4.2% during the 2nd quarter. Mather Group LLC. now owns 594 shares of the company’s stock worth $321,000 after buying an additional 24 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $511.30 on Thursday. The stock’s fifty day simple moving average is $482.98 and its 200 day simple moving average is $499.90. The stock 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. 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.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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 analysts’ expectations 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 was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.67 EPS. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

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.