IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,338 shares of the company’s stock after selling 1,417 shares during the period. Magnetar Financial LLC’s holdings in IDEXX Laboratories were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. lifted its stake in shares of IDEXX Laboratories by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 1,509 shares of the company’s stock valued at $838,000 after purchasing an additional 64 shares during the last quarter. US Bancorp DE boosted its stake in IDEXX Laboratories by 2.6% during the fourth quarter. US Bancorp DE now owns 19,820 shares of the company’s stock worth $11,001,000 after buying an additional 502 shares during the period. Orion Portfolio Solutions LLC increased its position in shares of IDEXX Laboratories by 8.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,910 shares of the company’s stock valued at $1,583,000 after acquiring an additional 222 shares during the last quarter. Intech Investment Management LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $893,000. Finally, Parallel Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 1.9% in the 4th quarter. Parallel Advisors LLC now owns 2,298 shares of the company’s stock worth $1,276,000 after acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $507.66 on Tuesday. The company has a market cap of $41.93 billion, a P/E ratio of 49.14, a PEG ratio of 4.17 and a beta of 1.33. The firm has a fifty day moving average price of $484.35 and a 200 day moving average price of $498.35. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released 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). The business 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%. The company’s revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.67 EPS. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on IDXX. Stifel Nicolaus cut their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Piper Sandler cut their price objective on IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a report on Wednesday, August 14th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $582.25.

About IDEXX Laboratories

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.