Short Interest in IDEXX Laboratories, Inc. (NASDAQ:IDXX) Increases By 17.1%

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 2,050,000 shares, a growth of 17.1% from the May 31st total of 1,750,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average daily trading volume, of 504,700 shares, the days-to-cover ratio is presently 4.1 days.

Analyst Ratings Changes

IDXX has been the subject of several recent analyst reports. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Morgan Stanley lowered their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Barclays cut their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Finally, Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $586.63.

IDEXX Laboratories Trading Down 1.4 %

NASDAQ IDXX traded down $6.76 on Friday, hitting $487.20. 863,807 shares of the stock were exchanged, compared to its average volume of 546,518. The company’s 50-day moving average price is $501.58 and its two-hundred day moving average price is $526.81. The company has a market capitalization of $40.24 billion, a price-to-earnings ratio of 47.16, a P/E/G ratio of 3.97 and a beta of 1.33. IDEXX Laboratories has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. Research analysts predict that IDEXX Laboratories will post 11.03 EPS for the current year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the sale, the director now owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

Several institutional investors have recently made changes to their positions in the company. Valley National Advisers Inc. grew its position in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares in the last quarter. Riverview Trust Co bought a new stake in IDEXX Laboratories in the first quarter worth $26,000. Crewe Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. DSM Capital Partners LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $33,000. Finally, Private Wealth Management Group LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $34,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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.