Deerfield Management Company L.P. Series C Makes New $933,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Deerfield Management Company L.P. Series C acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,914 shares of the company's stock, valued at approximately $933,000.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a "buy" rating and a $580.00 price objective for the company. Piper Sandler decreased their price target on IDEXX Laboratories from $600.00 to $520.00 and set a "neutral" rating on the stock in a research note on Wednesday, August 14th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a "hold" rating for the company in a research report on Monday, June 24th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $582.25.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock traded up $2.75 during trading hours on Friday, hitting $511.78. The stock had a trading volume of 279,189 shares, compared to its average volume of 470,704. The stock has a market capitalization of $42.27 billion, a price-to-earnings ratio of 49.28, a PEG ratio of 4.32 and a beta of 1.33. 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, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The stock's fifty day moving average is $485.27 and its two-hundred day moving average is $498.04.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued 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). IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. 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 company posted $2.67 earnings per share. IDEXX Laboratories's revenue was up 6.4% on a year-over-year basis. As a group, analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal 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.