Ieq Capital LLC Acquires 342 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ieq Capital LLC increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,551 shares of the company’s stock after acquiring an additional 342 shares during the quarter. Ieq Capital LLC’s holdings in IDEXX Laboratories were worth $3,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC raised its stake in IDEXX Laboratories by 43.0% during the second quarter. Carolinas Wealth Consulting LLC now owns 123 shares of the company’s stock valued at $60,000 after buying an additional 37 shares during the last quarter. Marsico Capital Management LLC raised its position in shares of IDEXX Laboratories by 17.8% in the 2nd quarter. Marsico Capital Management LLC now owns 4,183 shares of the company’s stock worth $2,038,000 after purchasing an additional 633 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in IDEXX Laboratories by 5.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,201 shares of the company’s stock worth $4,970,000 after purchasing an additional 497 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in IDEXX Laboratories by 4.3% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 4,295 shares of the company’s stock valued at $2,039,000 after purchasing an additional 176 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC grew its position in IDEXX Laboratories by 5.3% during the 2nd quarter. SYSTM Wealth Solutions LLC now owns 5,663 shares of the company’s stock valued at $2,759,000 after purchasing an additional 284 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

IDXX stock opened at $506.74 on Friday. 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, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market cap of $41.85 billion, a P/E ratio of 49.06, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. The stock’s fifty day moving average price is $483.85 and its 200-day moving average price is $499.16.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly 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). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $2.67 earnings per share. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on IDXX shares. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Piper Sandler lowered their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus 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.