BLI Banque de Luxembourg Investments Purchases New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

BLI Banque de Luxembourg Investments purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 118,400 shares of the company's stock, valued at approximately $48,882,000. IDEXX Laboratories comprises approximately 1.3% of BLI Banque de Luxembourg Investments' holdings, making the stock its 27th largest position. BLI Banque de Luxembourg Investments owned 0.14% of IDEXX Laboratories at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IDXX. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter valued at $29,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $31,000. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth approximately $38,000. Finally, Itau Unibanco Holding S.A. grew its position in IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after acquiring an additional 81 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IDXX. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research note on Monday, April 14th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, April 12th. Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $524.75.

IDEXX Laboratories Stock Performance

Shares of IDXX traded up $0.58 during mid-day trading on Friday, reaching $490.56. 311,194 shares of the company's stock traded hands, compared to its average volume of 647,488. The business's 50-day moving average price is $422.31 and its 200-day moving average price is $429.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market capitalization of $39.75 billion, a P/E ratio of 45.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $548.88.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.71 earnings per share. Equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP George Fennell sold 9,986 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is owned by corporate insiders.

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.