Two Sigma Investments LP Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Two Sigma Investments LP trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 21.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,486 shares of the company’s stock after selling 24,214 shares during the period. Two Sigma Investments LP’s holdings in IDEXX Laboratories were worth $36,170,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Hurley Capital LLC purchased a new position in IDEXX Laboratories during the fourth quarter valued at $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $30,000. Colonial Trust Co SC raised its stake in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after purchasing an additional 39 shares during the period. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at approximately $38,000. Finally, Itau Unibanco Holding S.A. lifted its stake in shares of IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.9%

Shares of IDXX opened at $517.16 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.60. The stock has a market cap of $41.59 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The firm has a 50 day simple moving average of $435.69 and a 200-day simple moving average of $432.77.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Bank of America lifted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler boosted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Stifel Nicolaus upped their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research note on Monday. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $536.00.

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.