MBB Public Markets I LLC Buys Shares of 6,015 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

MBB Public Markets I LLC bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 6,015 shares of the company’s stock, valued at approximately $2,931,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Daymark Wealth Partners LLC raised its position in shares of IDEXX Laboratories by 37.1% during the 2nd quarter. Daymark Wealth Partners LLC now owns 621 shares of the company’s stock valued at $303,000 after acquiring an additional 168 shares during the last quarter. Deerfield Management Company L.P. Series C acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $933,000. APG Asset Management US Inc. grew its holdings in shares of IDEXX Laboratories by 10.8% in the 2nd quarter. APG Asset Management US Inc. now owns 52,577 shares of the company’s stock valued at $25,048,000 after buying an additional 5,139 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of IDEXX Laboratories by 60.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 15,914 shares of the company’s stock valued at $7,753,000 after buying an additional 5,998 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of IDEXX Laboratories by 2.5% in the 2nd quarter. Marshall Wace LLP now owns 20,500 shares of the company’s stock valued at $9,988,000 after buying an additional 500 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $511.78 on Friday. The company has a fifty day moving average price of $486.15 and a 200 day moving average price of $497.44. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. 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 firm has a market cap of $42.27 billion, a PE ratio of 49.54, a PEG ratio of 4.32 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on IDXX. BTIG Research began coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Piper Sandler decreased their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.