Intech Investment Management LLC Sells 1,220 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Intech Investment Management LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 29.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,870 shares of the company's stock after selling 1,220 shares during the quarter. Intech Investment Management LLC's holdings in IDEXX Laboratories were worth $1,398,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of IDXX. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories in the 1st quarter valued at $26,000. Crewe Advisors LLC bought a new position in IDEXX Laboratories during the first quarter valued at about $26,000. Ridgewood Investments LLC acquired a new stake in shares of IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth about $28,000. Finally, nVerses Capital LLC acquired a new position in shares of IDEXX Laboratories during the 2nd quarter valued at about $49,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IDXX shares. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a "buy" rating and a $580.00 target price on the stock. Stifel Nicolaus lowered their price target 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. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Finally, Piper Sandler decreased their target price on IDEXX Laboratories from $600.00 to $520.00 and set a "neutral" rating for the company in a research note on Wednesday, August 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $582.25.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded down $8.62 on Wednesday, hitting $497.76. The stock had a trading volume of 298,809 shares, compared to its average volume of 472,303. The firm's 50 day moving average price is $484.48 and its 200-day moving average price is $497.97. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 48.22, a price-to-earnings-growth ratio of 4.32 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Tuesday, August 6th. The company reported $2.44 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 business had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the firm earned $2.67 earnings per share. The firm's revenue was up 6.4% compared to the same quarter last year. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

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.