EFG Asset Management Americas Corp. Has $6.20 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

EFG Asset Management Americas Corp. increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 45.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,728 shares of the company’s stock after buying an additional 3,966 shares during the quarter. IDEXX Laboratories accounts for about 1.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 26th biggest holding. EFG Asset Management Americas Corp.’s holdings in IDEXX Laboratories were worth $6,201,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Nordea Investment Management AB boosted its holdings in shares of IDEXX Laboratories by 15.5% during the 1st quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after acquiring an additional 1,839 shares in the last quarter. Brevan Howard Capital Management LP bought a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $3,183,000. Manning & Napier Advisors LLC acquired a new position in shares of IDEXX Laboratories in the second quarter valued at approximately $20,418,000. First Hawaiian Bank bought a new position in IDEXX Laboratories in the 1st quarter valued at approximately $982,000. Finally, Meyer Handelman Co. acquired a new stake in IDEXX Laboratories during the 1st quarter worth approximately $2,155,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently issued reports on IDXX. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Morgan Stanley lowered their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Piper Sandler reduced their price target on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday, July 25th. They issued 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 given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Trading Up 0.7 %

Shares of IDEXX Laboratories stock traded up $3.17 on Friday, reaching $472.35. 433,023 shares of the company’s stock were exchanged, compared to its average volume of 479,089. The company has a market capitalization of $39.01 billion, a P/E ratio of 45.73, a price-to-earnings-growth ratio of 4.10 and a beta of 1.33. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The firm’s 50-day moving average is $479.79 and its two-hundred day moving average is $504.22.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results 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 company had revenue of $1 billion for 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 firm’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.67 earnings per share. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

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.