HHM Wealth Advisors LLC Grows Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HHM Wealth Advisors LLC boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 135.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 191 shares of the company’s stock after acquiring an additional 110 shares during the period. HHM Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $93,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC boosted its stake in IDEXX Laboratories by 4.1% during the second quarter. Angeles Wealth Management LLC now owns 1,053 shares of the company’s stock worth $513,000 after buying an additional 41 shares during the period. Coldstream Capital Management Inc. lifted its holdings in shares of IDEXX Laboratories by 12.1% in the 2nd quarter. Coldstream Capital Management Inc. now owns 1,464 shares of the company’s stock worth $713,000 after acquiring an additional 158 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of IDEXX Laboratories by 17.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 14,952 shares of the company’s stock worth $7,285,000 after purchasing an additional 2,241 shares during the period. Andra AP fonden increased its holdings in IDEXX Laboratories by 41.9% in the 2nd quarter. Andra AP fonden now owns 30,500 shares of the company’s stock valued at $14,860,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Choreo LLC purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $1,227,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on IDXX shares. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Piper Sandler decreased their target price on 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 started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Finally, Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Three 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 has an average rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $490.26 on Thursday. The business has a 50-day simple moving average of $480.50 and a 200-day simple moving average of $502.25. 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 one year low of $372.50 and a one year high of $583.39. The company has a market cap of $40.49 billion, a PE ratio of 47.46, a P/E/G ratio of 4.02 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm earned $2.67 EPS. The company’s revenue was up 6.4% on a year-over-year basis. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal 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.