Jensen Investment Management Inc. Purchases New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Jensen Investment Management Inc. purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 5,120 shares of the company’s stock, valued at approximately $2,494,000.

A number of other institutional investors have also recently made changes to their positions in the business. Arizona State Retirement System lifted its holdings in shares of IDEXX Laboratories by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 24,088 shares of the company’s stock valued at $11,736,000 after acquiring an additional 255 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in IDEXX Laboratories in the second quarter worth about $890,000. Foundations Investment Advisors LLC lifted its stake in IDEXX Laboratories by 10.2% in the second quarter. Foundations Investment Advisors LLC now owns 495 shares of the company’s stock worth $241,000 after purchasing an additional 46 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in IDEXX Laboratories in the second quarter worth about $890,000. Finally, Midland Wealth Advisors LLC lifted its stake in IDEXX Laboratories by 10.3% in the second quarter. Midland Wealth Advisors LLC now owns 503 shares of the company’s stock worth $245,000 after purchasing an additional 47 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IDXX shares. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Piper Sandler decreased 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 note on Wednesday, August 14th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Stock Up 0.5 %

IDXX stock traded up $2.34 during trading on Friday, hitting $471.52. 20,242 shares of the company’s stock traded hands, compared to its average volume of 476,690. The firm has a market capitalization of $38.94 billion, a P/E ratio of 45.42, a PEG ratio of 4.10 and a beta of 1.32. The business has a fifty day simple moving average of $480.09 and a two-hundred day simple moving average of $504.80. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

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 the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. The business’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.67 earnings per share. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current 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.