Kayne Anderson Rudnick Investment Management LLC Sells 6,194 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 140,606 shares of the company’s stock after selling 6,194 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.17% of IDEXX Laboratories worth $68,503,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Thrivent Financial for Lutherans increased its position in IDEXX Laboratories by 450.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 43,208 shares of the company’s stock worth $21,050,000 after buying an additional 35,352 shares during the period. Sei Investments Co. increased its position in IDEXX Laboratories by 25.1% during the second quarter. Sei Investments Co. now owns 196,808 shares of the company’s stock worth $95,885,000 after acquiring an additional 39,455 shares during the period. Pacer Advisors Inc. raised its stake in IDEXX Laboratories by 25.2% during the 2nd quarter. Pacer Advisors Inc. now owns 12,013 shares of the company’s stock valued at $5,853,000 after purchasing an additional 2,416 shares during the last quarter. AE Wealth Management LLC boosted its holdings in IDEXX Laboratories by 16.6% in the 2nd quarter. AE Wealth Management LLC now owns 7,957 shares of the company’s stock valued at $3,877,000 after purchasing an additional 1,134 shares during the period. Finally, Waters Parkerson & CO. LLC grew its position in IDEXX Laboratories by 8.0% in the 2nd quarter. Waters Parkerson & CO. LLC now owns 918 shares of the company’s stock worth $447,000 after purchasing an additional 68 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IDXX. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Piper Sandler cut their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus reduced 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, StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $506.74 on Friday. The firm has a market capitalization of $41.85 billion, a P/E ratio of 49.06, a P/E/G ratio of 4.17 and a beta of 1.33. The stock has a fifty day moving average price of $483.85 and a two-hundred day moving average price of $499.16. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results 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 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 revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter last year, the business earned $2.67 EPS. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal 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.