IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Position Raised by Marsico Capital Management LLC

Marsico Capital Management LLC grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,183 shares of the company’s stock after purchasing an additional 633 shares during the period. Marsico Capital Management LLC’s holdings in IDEXX Laboratories were worth $2,038,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors acquired a new position in IDEXX Laboratories in the fourth quarter worth approximately $135,910,000. American Century Companies Inc. raised its holdings in shares of IDEXX Laboratories by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock valued at $274,179,000 after purchasing an additional 177,226 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of IDEXX Laboratories by 178.8% in the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after purchasing an additional 166,751 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in IDEXX Laboratories during the fourth quarter worth $78,001,000. Finally, Jupiter Asset Management Ltd. bought a new position in IDEXX Laboratories during the first quarter valued at about $55,425,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $512.27 on Wednesday. The firm has a market capitalization of $42.31 billion, a PE ratio of 49.59, a PEG ratio of 4.17 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The business’s 50 day moving average is $482.42 and its 200-day moving average is $499.81. The company has a current ratio of 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last issued its 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 for the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a net margin of 22.34% and a return on equity of 57.03%. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.67 earnings per share. Sell-side analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

Analysts Set New Price Targets

IDXX has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Piper Sandler lowered 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. Finally, BTIG Research started coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus 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.