Blair William & Co. IL Trims Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Blair William & Co. IL lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,173,058 shares of the company’s stock after selling 16,086 shares during the period. IDEXX Laboratories accounts for approximately 1.8% of Blair William & Co. IL’s holdings, making the stock its 6th biggest position. Blair William & Co. IL owned 1.42% of IDEXX Laboratories worth $571,514,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IDXX. Avantax Advisory Services Inc. increased its position in IDEXX Laboratories by 21.1% in the fourth quarter. Avantax Advisory Services Inc. now owns 632 shares of the company’s stock worth $351,000 after purchasing an additional 110 shares during the last quarter. Panagora Asset Management Inc. increased its stake in IDEXX Laboratories by 2.8% during the fourth quarter. Panagora Asset Management Inc. now owns 1,523 shares of the company’s stock worth $845,000 after acquiring an additional 41 shares during the last quarter. Financial Advocates Investment Management purchased a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $269,000. PNC Financial Services Group Inc. raised its position in IDEXX Laboratories by 1.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 39,988 shares of the company’s stock valued at $22,195,000 after purchasing an additional 721 shares during the period. Finally, UBS Group AG lifted its stake in shares of IDEXX Laboratories by 13.8% in the 4th quarter. UBS Group AG now owns 209,438 shares of the company’s stock valued at $116,249,000 after purchasing an additional 25,409 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on IDXX shares. BTIG Research initiated coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Piper Sandler cut their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $512.27 on Wednesday. The stock has a market capitalization of $42.31 billion, a price-to-earnings ratio of 49.59, a P/E/G ratio of 4.17 and a beta of 1.33. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The stock has a fifty day simple moving average of $482.42 and a two-hundred day simple moving average of $499.81.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm’s revenue 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. On average, analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS 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.