Cumberland Partners Ltd Acquires Shares of 2,750 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Cumberland Partners Ltd purchased 2,750 shares of IDEXX Laboratories, valued at approximately $1,155,000, during the first quarter.
• IDEXX Laboratories has received multiple buy ratings from analysts, with a consensus price target of $557.88 and an average rating of "Moderate Buy."
• Following a recent sale by Director M Anne Szostak, insiders now own 0.98% of the company's stock, with a decrease of 41.16% in Szostak's ownership.

Cumberland Partners Ltd acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,750 shares of the company's stock, valued at approximately $1,155,000.

A number of other hedge funds also recently bought and sold shares of IDXX. MorganRosel Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 1st quarter valued at approximately $26,000. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $29,000. Colonial Trust Co SC boosted its position in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its position in shares of IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the period. Finally, Bank of Jackson Hole Trust boosted its position in shares of IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 0.2%

Shares of IDEXX Laboratories stock traded down $1.39 during trading on Wednesday, hitting $640.55. 126,194 shares of the stock were exchanged, compared to its average volume of 735,871. The stock has a market cap of $51.51 billion, a price-to-earnings ratio of 53.39, a price-to-earnings-growth ratio of 4.71 and a beta of 1.49. The firm's 50-day moving average price is $537.43 and its 200 day moving average price is $475.11. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.81.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the company earned $2.44 earnings per share. IDEXX Laboratories's quarterly revenue was up 10.6% compared to the same quarter last year. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley set a $722.00 price target on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research note on Monday. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $623.56.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the sale, the director directly owned 1,801 shares of the company's stock, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Profile

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.