Public Sector Pension Investment Board Boosts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Public Sector Pension Investment Board increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 67.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 3,078 shares of the company’s stock after purchasing an additional 1,241 shares during the quarter. Public Sector Pension Investment Board’s holdings in IDEXX Laboratories were worth $1,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of IDXX. Nordea Investment Management AB increased its position 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 worth $7,447,000 after purchasing an additional 1,839 shares in the last quarter. Manning & Napier Advisors LLC purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $20,418,000. Brevan Howard Capital Management LP purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $3,183,000. First Hawaiian Bank acquired a new stake 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 worth approximately $2,155,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on IDXX. Stifel Nicolaus reduced their price target 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 cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 target price for the company. Finally, Piper Sandler dropped their price target 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. Three 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, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

IDEXX Laboratories Trading Down 1.3 %

NASDAQ IDXX opened at $505.22 on Tuesday. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $41.72 billion, a P/E ratio of 48.91, a P/E/G ratio of 4.32 and a beta of 1.33. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The firm has a 50-day moving average price of $486.74 and a 200 day moving average price of $496.93.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the company posted $2.67 earnings per share. The business’s quarterly revenue was up 6.4% on a year-over-year basis. Equities research analysts expect that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

IDEXX Laboratories Company 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.