Plato Investment Management Ltd Sells 54 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Plato Investment Management Ltd decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,455 shares of the company’s stock after selling 54 shares during the period. Plato Investment Management Ltd’s holdings in IDEXX Laboratories were worth $709,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Riverview Trust Co bought a new stake in shares of IDEXX Laboratories in the first quarter worth $26,000. Crewe Advisors LLC bought a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Finally, DSM Capital Partners LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $33,000. Institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 target price on the stock. Stifel Nicolaus cut their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Piper Sandler decreased their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $582.25.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $500.55 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The business has a 50-day moving average price of $481.18 and a 200-day moving average price of $500.72. The firm has a market cap of $41.34 billion, a price-to-earnings ratio of 48.46, a price-to-earnings-growth ratio of 4.17 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.44). The business had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.67 earnings per share. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 10.45 EPS for the current fiscal year.

IDEXX Laboratories 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.