Arcadia Investment Management Corp MI Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arcadia Investment Management Corp MI increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 354.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,561 shares of the company’s stock after purchasing an additional 1,998 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in IDEXX Laboratories were worth $1,248,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Manchester Capital Management LLC lifted its stake in shares of IDEXX Laboratories by 11.9% during the 4th quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after acquiring an additional 20 shares during the last quarter. Atomi Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 3.4% during the 1st quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock worth $344,000 after acquiring an additional 21 shares during the last quarter. Ballentine Partners LLC lifted its stake in shares of IDEXX Laboratories by 1.9% during the 1st quarter. Ballentine Partners LLC now owns 1,188 shares of the company’s stock worth $641,000 after acquiring an additional 22 shares during the last quarter. Eads & Heald Wealth Management lifted its stake in shares of IDEXX Laboratories by 0.8% during the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after acquiring an additional 22 shares during the last quarter. Finally, LRI Investments LLC lifted its stake in shares of IDEXX Laboratories by 21.7% during the 2nd quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after acquiring an additional 23 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 0.5 %

Shares of NASDAQ:IDXX traded up $2.52 on Friday, reaching $471.70. The company had a trading volume of 56,022 shares, compared to its average volume of 476,898. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The firm’s 50 day simple moving average is $480.09 and its 200-day simple moving average is $504.80. The firm has a market capitalization of $38.96 billion, a PE ratio of 45.42, a PEG ratio of 4.10 and a beta of 1.32. 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 (NASDAQ:IDXX) last announced 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 during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business posted $2.67 earnings per share. The company’s revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Piper Sandler reduced their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Finally, BTIG Research assumed coverage on IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average target price 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.