Pacer Advisors Inc. Acquires 2,416 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pacer Advisors Inc. boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,013 shares of the company’s stock after buying an additional 2,416 shares during the quarter. Pacer Advisors Inc.’s holdings in IDEXX Laboratories were worth $5,853,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. D.A. Davidson & CO. increased its stake in shares of IDEXX Laboratories by 4.4% in the fourth quarter. D.A. Davidson & CO. now owns 1,509 shares of the company’s stock worth $838,000 after purchasing an additional 64 shares in the last quarter. US Bancorp DE increased its stake in shares of IDEXX Laboratories by 2.6% in the fourth quarter. US Bancorp DE now owns 19,820 shares of the company’s stock worth $11,001,000 after purchasing an additional 502 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in shares of IDEXX Laboratories by 8.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 2,910 shares of the company’s stock worth $1,583,000 after purchasing an additional 222 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter worth $893,000. Finally, Parallel Advisors LLC increased its stake in shares of IDEXX Laboratories by 1.9% in the fourth quarter. Parallel Advisors LLC now owns 2,298 shares of the company’s stock worth $1,276,000 after purchasing an additional 43 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $507.66 on Tuesday. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The firm has a fifty day moving average price of $484.35 and a 200 day moving average price of $498.35. The firm has a market cap of $41.93 billion, a price-to-earnings ratio of 49.14, a P/E/G ratio of 4.17 and a beta of 1.33.

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

Wall Street Analyst Weigh In

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