Wealthspire Advisors LLC Has $2.61 Million Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wealthspire Advisors LLC boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 120.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,362 shares of the company’s stock after purchasing an additional 2,930 shares during the period. Wealthspire Advisors LLC’s holdings in IDEXX Laboratories were worth $2,612,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB lifted its position in shares of IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after buying an additional 1,839 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in IDEXX Laboratories during the 2nd quarter valued at $20,418,000. Brevan Howard Capital Management LP acquired a new stake in IDEXX Laboratories during the 4th quarter valued at $3,183,000. First Hawaiian Bank bought a new position in IDEXX Laboratories during the first quarter worth $982,000. Finally, Meyer Handelman Co. acquired a new position in shares of IDEXX Laboratories in the first quarter valued at $2,155,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.7 %

Shares of IDXX stock opened at $500.55 on Friday. The stock has a market cap of $41.20 billion, a P/E ratio of 48.46, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year 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 stock has a 50 day simple moving average of $481.18 and a 200 day simple moving average of $501.22.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results 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). 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 the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $2.67 earnings per share. The business’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IDXX has been the subject of a number of research reports. BTIG Research assumed 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. Piper Sandler cut 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. Stifel Nicolaus decreased their target price 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. Finally, StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $582.25.

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.