Schroder Investment Management Group Increases Stake in IDEXX Laboratories, Inc. (IDXX)
Schroder Investment Management Group lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 97.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 110,276 shares of the company’s stock after acquiring an additional 54,555 shares during the period. Schroder Investment Management Group owned 0.13% of IDEXX Laboratories worth $23,982,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Fundsmith Equity Fund L.P. purchased a new position in IDEXX Laboratories in the 2nd quarter valued at $965,278,000. Marshall Wace LLP purchased a new position in IDEXX Laboratories in the 2nd quarter valued at $45,884,000. Ardevora Asset Management LLP purchased a new position in IDEXX Laboratories in the 2nd quarter valued at $34,461,000. Worldquant Millennium Quantitative Strategies LLC purchased a new position in IDEXX Laboratories in the 2nd quarter valued at $31,288,000. Finally, CIBC Private Wealth Group LLC grew its position in IDEXX Laboratories by 24.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 518,101 shares of the company’s stock valued at $112,915,000 after buying an additional 103,186 shares during the last quarter. Institutional investors and hedge funds own 91.22% of the company’s stock.
A number of research firms recently weighed in on IDXX. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Credit Suisse Group lifted their price objective on shares of IDEXX Laboratories from $228.00 to $231.00 and gave the company an “outperform” rating in a research report on Thursday, June 21st. BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 31st. Piper Jaffray Companies lifted their price objective on shares of IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus lifted their price objective on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $244.00.
Shares of NASDAQ IDXX opened at $222.42 on Friday. The firm has a market cap of $21.62 billion, a price-to-earnings ratio of 67.81, a P/E/G ratio of 2.28 and a beta of 0.64. IDEXX Laboratories, Inc. has a one year low of $146.09 and a one year high of $256.22. The company has a debt-to-equity ratio of -14.77, a quick ratio of 0.73 and a current ratio of 0.96.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Wednesday, August 1st. The company reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. The company had revenue of $580.75 million for the quarter, compared to analyst estimates of $574.68 million. IDEXX Laboratories had a net margin of 14.50% and a negative return on equity of 703.80%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.87 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 4.18 EPS for the current year.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
Featured Article: What does the Dow Jones Industrial Average (DJIA) measure?
Receive News & Ratings for IDEXX Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.