State of New Jersey Common Pension Fund D Decreases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

State of New Jersey Common Pension Fund D reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 35.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,881 shares of the company’s stock after selling 16,602 shares during the period. State of New Jersey Common Pension Fund D’s holdings in IDEXX Laboratories were worth $14,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trifecta Capital Advisors LLC increased its position in shares of IDEXX Laboratories by 13,200.0% during the second quarter. Trifecta Capital Advisors LLC now owns 665 shares of the company’s stock worth $324,000 after purchasing an additional 660 shares in the last quarter. HHM Wealth Advisors LLC grew its stake in IDEXX Laboratories by 135.8% during the 2nd quarter. HHM Wealth Advisors LLC now owns 191 shares of the company’s stock worth $93,000 after buying an additional 110 shares during the last quarter. Angeles Wealth Management LLC increased its position 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. increased its position in IDEXX Laboratories by 12.1% during the second quarter. Coldstream Capital Management Inc. now owns 1,464 shares of the company’s stock worth $713,000 after buying an additional 158 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in IDEXX Laboratories by 17.6% in the second quarter. Daiwa Securities Group Inc. now owns 14,952 shares of the company’s stock valued at $7,285,000 after buying an additional 2,241 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of recent research reports. 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 price objective on the stock. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus decreased 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, Piper Sandler dropped their target price on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $500.55 on Friday. 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 company’s 50-day moving average price is $481.18 and its 200 day moving average price is $501.73. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The stock has a market cap of $41.20 billion, a price-to-earnings ratio of 48.46, a PEG ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results 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 company had revenue of $1 billion during 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%. IDEXX Laboratories’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.67 EPS. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share 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.