IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by State of Michigan Retirement System

State of Michigan Retirement System lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,654 shares of the company’s stock after acquiring an additional 2,054 shares during the quarter. State of Michigan Retirement System’s holdings in IDEXX Laboratories were worth $7,149,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Sound Income Strategies LLC raised its holdings in IDEXX Laboratories by 189.1% in the 1st quarter. Sound Income Strategies LLC now owns 133 shares of the company’s stock worth $32,000 after purchasing an additional 87 shares during the period. Key Financial Inc purchased a new position in shares of IDEXX Laboratories during the 1st quarter valued at approximately $36,000. Anderson Fisher LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at $36,000. Tompkins Financial Corp purchased a new stake in IDEXX Laboratories in the 1st quarter worth $38,000. Finally, Carroll Financial Associates Inc. raised its position in IDEXX Laboratories by 645.8% during the first quarter. Carroll Financial Associates Inc. now owns 179 shares of the company’s stock worth $43,000 after acquiring an additional 155 shares during the period. Hedge funds and other institutional investors own 88.58% of the company’s stock.

IDXX has been the subject of a number of research reports. TheStreet raised shares of IDEXX Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, April 30th. Bank of America lifted their price objective on IDEXX Laboratories from $300.00 to $390.00 and gave the stock a “buy” rating in a report on Monday, July 20th. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Finally, Stifel Nicolaus lifted their price target on IDEXX Laboratories from $280.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $317.14.

In related news, Director Jonathan W. Ayers sold 13,600 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $286.07, for a total value of $3,890,552.00. Following the completion of the transaction, the director now directly owns 810,467 shares in the company, valued at $231,850,294.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Giovani Twigge sold 14,070 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $307.73, for a total value of $4,329,761.10. The disclosure for this sale can be found here. Insiders have sold 106,182 shares of company stock worth $31,409,008 over the last ninety days. 2.53% of the stock is owned by insiders.

IDXX stock opened at $397.75 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $168.65 and a 1 year high of $407.86. The firm has a market capitalization of $33.78 billion, a PE ratio of 79.55, a price-to-earnings-growth ratio of 6.12 and a beta of 0.81. The company has a debt-to-equity ratio of 7.06, a current ratio of 0.85 and a quick ratio of 0.60. The business has a 50 day simple moving average of $335.38 and a 200-day simple moving average of $286.60.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Friday, July 31st. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.55. The company had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $589.98 million. IDEXX Laboratories had a return on equity of 264.71% and a net margin of 17.78%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.43 EPS. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 5.09 EPS for the current year.

About IDEXX Laboratories

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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