Mackenzie Financial Corp has a $24 million stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mackenzie Financial Corp raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 13.5% in the second quarter, HoldingsChannel reports. The firm owned 49,267 shares of the company’s stock after acquiring an additional 5,863 shares during the period. Mackenzie Financial Corp’s holdings in IDEXX Laboratories were worth $24,003,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IDXX. Riverview Trust Co purchased a new stake in IDEXX Laboratories in the first quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at about $27,000. Institutional & Family Asset Management LLC purchased a new position in IDEXX Laboratories in the second quarter valued at approximately $28,000. Finally, nVerses Capital LLC purchased a new position in IDEXX Laboratories in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 87.84% of the company’s shares.

IDEXX Laboratories stock performance

Shares of IDXX opened at $511.78 on Friday. IDEXX Laboratories, Inc. it has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock’s 50-day moving average is $486.15, and its two-hundred-day moving average is $497.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37, and a quick ratio of 1.03. The firm has a market cap of $42.27 billion, a P/E ratio of 49.54, a PEG ratio of 4.32 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX – Get Your Free Report ) 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 firm had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company’s quarterly revenue was up 6.4% year over year. In the same quarter last year, the company posted EPS of $2.67. Analysts predict that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Changes in Analyst Ratings

Several analysts have issued reports on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. BTIG Research initiated 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. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Piper Sandler cut their price target 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $582.25, according to MarketBeat.

Get the latest inventory analysis from IDEXX labs

Profile of IDEXX Laboratories

(Free report)

IDEXX Laboratories, Inc develops, manufactures and distributes products primarily for the veterinary, pet and poultry, dairy and water testing markets in Africa, 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 products.

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