IDEXX Laboratories, Inc. $IDXX Stock Position Increased by Pacer Advisors Inc.

Key Points

• Pacer Advisors increased its IDEXX Laboratories position by 193.6% in the first quarter, purchasing 27,038 additional shares for a total holding valued at approximately $23 million. Institutional investors collectively own 87.84% of the company.
• IDEXX reported quarterly earnings of $3.47 per share, exceeding estimates of $3.41, while revenue rose 14.3% year over year to $1.14 billion. Analysts project full-year earnings of $14.68 per share.
• The stock opened at $567.84, well below its 52-week high of $769.98. Analysts maintain a consensus “Moderate Buy” rating with a $749 target price, despite recent neutral ratings and target-price cuts from some brokerages.

Pacer Advisors Inc. grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 193.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 41,003 shares of the company's stock after purchasing an additional 27,038 shares during the period. Pacer Advisors Inc. owned approximately 0.05% of IDEXX Laboratories worth $23,039,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. SHP Wealth Management bought a new position in shares of IDEXX Laboratories in the fourth quarter worth $26,000. Virtus Advisers LLC acquired a new position in IDEXX Laboratories in the third quarter worth approximately $26,000. WealthCollab LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter valued at $30,000. Caitong International Asset Management Co. Ltd purchased a new position in IDEXX Laboratories in the 3rd quarter worth about $36,000. Finally, Mowery & Schoenfeld Wealth Management LLC raised its holdings in IDEXX Laboratories by 58.8% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 54 shares of the company's stock worth $37,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $567.84 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.12 and a quick ratio of 0.82. The firm has a market capitalization of $44.79 billion, a price-to-earnings ratio of 41.81, a price-to-earnings-growth ratio of 3.06 and a beta of 1.54. The company has a 50 day simple moving average of $557.53 and a 200-day simple moving average of $588.43. IDEXX Laboratories, Inc. has a 52-week low of $518.55 and a 52-week high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The company reported $3.47 EPS for the quarter, beating analysts' consensus estimates of $3.41 by $0.06. IDEXX Laboratories had a net margin of 24.63% and a return on equity of 70.87%. The firm had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same period in the previous year, the firm posted $2.91 earnings per share. The firm's revenue was up 14.3% on a year-over-year basis. Equities research analysts predict that IDEXX Laboratories, Inc. will post 14.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on IDXX. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Sunday, July 12th. Citigroup assumed coverage on shares of IDEXX Laboratories in a research note on Wednesday, April 15th. They set a "neutral" rating and a $650.00 target price on the stock. Weiss Ratings raised IDEXX Laboratories from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. Finally, UBS Group decreased their target price on IDEXX Laboratories from $640.00 to $620.00 and set a "neutral" rating for the company in a research report on Monday, July 27th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $749.00.

About IDEXX Laboratories

IDEXX Laboratories, Inc NASDAQ: IDXX is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX's product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.

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