TD Asset Management Inc Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

TD Asset Management Inc cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% during the 2nd quarter, Holdings Channel reports. The firm owned 310,133 shares of the company’s stock after selling 1,834 shares during the quarter. TD Asset Management Inc’s holdings in IDEXX Laboratories were worth $151,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Belpointe Asset Management LLC purchased a new position in IDEXX Laboratories during the second quarter worth about $890,000. Foundations Investment Advisors LLC boosted its holdings in IDEXX Laboratories by 10.2% during the second quarter. Foundations Investment Advisors LLC now owns 495 shares of the company’s stock worth $241,000 after purchasing an additional 46 shares during the last quarter. Fortis Capital Advisors LLC purchased a new position in IDEXX Laboratories during the second quarter worth about $890,000. Midland Wealth Advisors LLC boosted its holdings in IDEXX Laboratories by 10.3% during the second quarter. Midland Wealth Advisors LLC now owns 503 shares of the company’s stock worth $245,000 after purchasing an additional 47 shares during the last quarter. Finally, Comgest Global Investors S.A.S. boosted its holdings in IDEXX Laboratories by 26.6% during the second quarter. Comgest Global Investors S.A.S. now owns 33,955 shares of the company’s stock worth $16,543,000 after purchasing an additional 7,130 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Piper Sandler dropped their target price on shares of 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 dropped their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $469.18 on Friday. The stock has a market capitalization of $38.75 billion, a P/E ratio of 45.42, a PEG ratio of 4.10 and a beta of 1.32. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The firm’s 50 day moving average is $480.09 and its 200 day moving average is $504.80. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results 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 for 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 business’s quarterly 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 earnings per share. On average, sell-side analysts anticipate 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.