Choreo LLC Takes $1.23 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Choreo LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,569 shares of the company’s stock, valued at approximately $1,227,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new position in IDEXX Laboratories in the 1st quarter worth $26,000. Crewe Advisors LLC bought a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories in the second quarter worth $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories in the second quarter valued at $28,000. Finally, DSM Capital Partners LLC purchased a new position in IDEXX Laboratories during the 4th quarter valued at $33,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX opened at $497.04 on Friday. The firm has a market cap of $41.05 billion, a PE ratio of 48.12, a P/E/G ratio of 4.02 and a beta of 1.33. The stock has a 50-day moving average price of $480.89 and a 200-day moving average price of $502.21. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03.

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). IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The firm had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm posted $2.67 earnings per share. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. 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. BTIG Research began 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. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler decreased their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $582.25.

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.