Cranbrook Wealth Management LLC Makes New $174,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cranbrook Wealth Management LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 357 shares of the company’s stock, valued at approximately $174,000.

Other large investors have also modified their holdings of the company. Axxcess Wealth Management LLC increased its position in IDEXX Laboratories by 19.4% during the second quarter. Axxcess Wealth Management LLC now owns 2,859 shares of the company’s stock worth $1,393,000 after buying an additional 464 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of IDEXX Laboratories by 370.6% during the second quarter. Edgestream Partners L.P. now owns 9,577 shares of the company’s stock valued at $4,666,000 after acquiring an additional 7,542 shares during the last quarter. Citizens Financial Group Inc. RI increased its position in IDEXX Laboratories by 47.1% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 675 shares of the company’s stock worth $329,000 after purchasing an additional 216 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in IDEXX Laboratories by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock valued at $249,855,000 after purchasing an additional 59,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in IDEXX Laboratories by 12.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock valued at $190,283,000 after purchasing an additional 43,473 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $511.38 on Tuesday. The business’s 50-day simple moving average is $481.74 and its 200 day simple moving average is $500.27. The company has a market cap of $42.23 billion, a P/E ratio of 49.50, a PEG ratio of 4.17 and a beta of 1.33. 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 one year low of $372.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share 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 firm had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $2.67 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IDXX has been the subject of a number of recent research reports. Piper Sandler lowered their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a report on Wednesday, August 14th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus decreased their price target on 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 set a “buy” rating and a $580.00 price objective for the company. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Company Profile

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.