Edgestream Partners L.P. Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Edgestream Partners L.P. boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 370.6% in the second quarter, Holdings Channel.com reports. The firm owned 9,577 shares of the company’s stock after buying an additional 7,542 shares during the quarter. Edgestream Partners L.P.’s holdings in IDEXX Laboratories were worth $4,666,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of IDEXX Laboratories during the first quarter valued at $26,000. Crewe Advisors LLC purchased a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $28,000. Finally, DSM Capital Partners LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at approximately $33,000. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IDXX. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Piper Sandler dropped their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Trading Up 0.2 %

IDXX opened at $512.27 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock has a market capitalization of $42.31 billion, a price-to-earnings ratio of 49.59, a PEG ratio of 4.17 and a beta of 1.33. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The business has a fifty day moving average price of $482.42 and a 200 day moving average price of $499.81.

IDEXX Laboratories (NASDAQ:IDXX) last announced 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). The firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company earned $2.67 earnings per share. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

IDEXX Laboratories 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.