Arcadia Investment Management Corp MI Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arcadia Investment Management Corp MI increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 354.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,561 shares of the company’s stock after purchasing an additional 1,998 shares during the period. Arcadia Investment Management Corp MI’s holdings in IDEXX Laboratories were worth $1,248,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. Riverview Trust Co purchased a new position in IDEXX Laboratories during the 1st quarter worth $26,000. Crewe Advisors LLC acquired a new position in shares of IDEXX Laboratories in the first quarter valued at about $26,000. Ridgewood Investments LLC purchased a new position in shares of IDEXX Laboratories in the second quarter worth about $27,000. Institutional & Family Asset Management LLC acquired a new stake in shares of IDEXX Laboratories during the second quarter worth about $28,000. Finally, DSM Capital Partners LLC purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $33,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $2.52 on Friday, hitting $471.70. The company’s stock had a trading volume of 56,022 shares, compared to its average volume of 476,898. The company has a market capitalization of $38.96 billion, a price-to-earnings ratio of 45.42, a price-to-earnings-growth ratio of 4.10 and a beta of 1.32. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.37. The firm has a fifty day moving average price of $480.09 and a 200-day moving average price of $504.80.

IDEXX Laboratories (NASDAQ:IDXX) last posted 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). The business had revenue of $1 billion during 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 firm’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.67 earnings per share. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Piper Sandler reduced their price target on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research report on Wednesday, August 14th. Stifel Nicolaus reduced their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Morgan Stanley reduced their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $582.25.

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.