AM Squared Ltd Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

AM Squared Ltd lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 66.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 100 shares of the company’s stock after selling 200 shares during the quarter. AM Squared Ltd’s holdings in IDEXX Laboratories were worth $49,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Kestra Private Wealth Services LLC raised its holdings in shares of IDEXX Laboratories by 3.0% during the fourth quarter. Kestra Private Wealth Services LLC now owns 799 shares of the company’s stock valued at $443,000 after buying an additional 23 shares during the last quarter. Savant Capital LLC lifted its holdings in IDEXX Laboratories by 27.6% during the 4th quarter. Savant Capital LLC now owns 777 shares of the company’s stock valued at $431,000 after purchasing an additional 168 shares during the last quarter. Natixis Advisors L.P. lifted its holdings in IDEXX Laboratories by 18.4% in the fourth quarter. Natixis Advisors L.P. now owns 60,419 shares of the company’s stock valued at $33,535,000 after buying an additional 9,396 shares during the period. Los Angeles Capital Management LLC increased its stake in IDEXX Laboratories by 2.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 6,918 shares of the company’s stock worth $3,840,000 after purchasing an additional 163 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of IDEXX Laboratories by 58.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,621 shares of the company’s stock valued at $900,000 after purchasing an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded down $5.95 on Friday, hitting $481.33. The company’s stock had a trading volume of 406,350 shares, compared to its average volume of 498,073. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a market capitalization of $39.62 billion, a price-to-earnings ratio of 46.60, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. The stock’s 50-day moving average is $481.58 and its two-hundred day moving average is $506.89.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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 business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.67 earnings per share. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 14th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Finally, Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $582.25.

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.