IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,870 shares of the company’s stock after selling 1,220 shares during the period. Intech Investment Management LLC’s holdings in IDEXX Laboratories were worth $1,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in shares of IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after acquiring an additional 1,839 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $20,418,000. Brevan Howard Capital Management LP purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $3,183,000. First Hawaiian Bank acquired a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $982,000. Finally, Meyer Handelman Co. purchased a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $2,155,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.3 %

IDXX opened at $506.38 on Wednesday. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The firm has a 50 day moving average price of $484.48 and a 200 day moving average price of $497.97. 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 company has a market cap of $41.82 billion, a PE ratio of 49.02, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, August 6th. The company reported $2.44 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 business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the business posted $2.67 EPS. The business’s revenue was up 6.4% on a year-over-year basis. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on IDXX. 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 target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. BTIG Research assumed coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, IDEXX Laboratories 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.