Sanctuary Advisors LLC Makes New $1.36 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sanctuary Advisors LLC acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,730 shares of the company’s stock, valued at approximately $1,363,000.

Several other hedge funds also recently made changes to their positions in IDXX. Atomi Financial Group Inc. grew its holdings in shares of IDEXX Laboratories by 3.4% during the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after buying an additional 21 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of IDEXX Laboratories by 1.9% during the first quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after buying an additional 22 shares during the last quarter. Eads & Heald Wealth Management grew its holdings in shares of IDEXX Laboratories by 0.8% during the second quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after buying an additional 22 shares during the last quarter. LRI Investments LLC grew its holdings in shares of IDEXX Laboratories by 21.7% during the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after buying an additional 23 shares during the last quarter. Finally, Mather Group LLC. grew its holdings in shares of IDEXX Laboratories by 4.2% during the second quarter. Mather Group LLC. now owns 594 shares of the company’s stock worth $321,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $473.28 on Friday. The firm has a 50 day moving average of $487.94 and a 200-day moving average of $494.71. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The company has a market cap of $39.09 billion, a price-to-earnings ratio of 45.52, a PEG ratio of 4.32 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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 company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business posted $2.67 earnings per share. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on IDXX. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler reduced their price objective 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. Finally, BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $581.00.

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.