IFM Investors Pty Ltd Raises Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

IFM Investors Pty Ltd boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,204 shares of the company’s stock after purchasing an additional 1,015 shares during the quarter. IFM Investors Pty Ltd’s holdings in IDEXX Laboratories were worth $4,504,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. JSF Financial LLC purchased a new position in IDEXX Laboratories during the first quarter worth approximately $230,000. Bingham Osborn & Scarborough LLC raised its holdings in shares of IDEXX Laboratories by 3.8% during the first quarter. Bingham Osborn & Scarborough LLC now owns 885 shares of the company’s stock valued at $433,000 after acquiring an additional 32 shares during the last quarter. Scott & Selber Inc. raised its holdings in shares of IDEXX Laboratories by 0.4% during the first quarter. Scott & Selber Inc. now owns 4,529 shares of the company’s stock valued at $2,216,000 after acquiring an additional 20 shares during the last quarter. Griffin Asset Management Inc. raised its holdings in shares of IDEXX Laboratories by 9.1% during the first quarter. Griffin Asset Management Inc. now owns 445 shares of the company’s stock valued at $218,000 after acquiring an additional 37 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of IDEXX Laboratories by 35.3% during the first quarter. Envestnet Asset Management Inc. now owns 156,801 shares of the company’s stock valued at $76,724,000 after acquiring an additional 40,900 shares during the last quarter. Institutional investors own 85.06% of the company’s stock.

NASDAQ:IDXX opened at $530.07 on Monday. IDEXX Laboratories, Inc. has a one year low of $288.50 and a one year high of $573.99. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.24 and a current ratio of 1.65. The stock has a market cap of $45.20 billion, a PE ratio of 92.35, a P/E/G ratio of 4.55 and a beta of 0.88. The stock has a 50 day moving average price of $520.22 and a 200 day moving average price of $494.44.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, May 4th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $1.72 by $0.63. IDEXX Laboratories had a return on equity of 198.91% and a net margin of 19.20%. The firm had revenue of $777.71 million during the quarter, compared to analysts’ expectations of $738.43 million. During the same quarter last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, analysts predict that IDEXX Laboratories, Inc. will post 6.13 earnings per share for the current fiscal year.

A number of brokerages have commented on IDXX. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating and set a $519.00 target price for the company. in a report on Tuesday, April 6th. Barclays increased their target price on IDEXX Laboratories from $600.00 to $616.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. Finally, JPMorgan Chase & Co. assumed coverage on IDEXX Laboratories in a report on Friday, January 29th. They set an “overweight” rating and a $570.00 target price for the company. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $482.00.

In other IDEXX Laboratories news, Director Jonathan W. Ayers sold 512 shares of the firm’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $541.02, for a total transaction of $277,002.24. Following the completion of the sale, the director now owns 653,703 shares of the company’s stock, valued at $353,666,397.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Brian P. Mckeon sold 1,307 shares of the firm’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $539.58, for a total value of $705,231.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,733 shares of company stock valued at $10,551,668. 2.53% of the stock is owned by insiders.

About IDEXX Laboratories

IDEXX Laboratories, Inc 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 CAG; 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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