Franklin Street Advisors Inc. NC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Franklin Street Advisors Inc. NC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 31,909 shares of the company's stock, valued at approximately $13,400,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. United Capital Financial Advisors LLC boosted its holdings in IDEXX Laboratories by 0.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after purchasing an additional 22 shares in the last quarter. Gabelli Funds LLC boosted its holdings in IDEXX Laboratories by 5.3% in the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company's stock valued at $207,000 after purchasing an additional 25 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in IDEXX Laboratories by 3.3% in the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock valued at $335,000 after purchasing an additional 26 shares in the last quarter. Forum Financial Management LP boosted its holdings in IDEXX Laboratories by 4.9% in the 4th quarter. Forum Financial Management LP now owns 621 shares of the company's stock valued at $257,000 after purchasing an additional 29 shares in the last quarter. Finally, Retirement Wealth Solutions LLC boosted its holdings in IDEXX Laboratories by 40.0% in the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the sale, the director now directly owns 1,801 shares of the company's stock, valued at approximately $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Leerink Partners lifted their price target on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday. Stifel Nicolaus lifted their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Morgan Stanley lifted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $546.00.

IDEXX Laboratories Stock Down 0.8%

NASDAQ:IDXX traded down $4.22 during trading hours on Friday, reaching $522.70. The company's stock had a trading volume of 411,464 shares, compared to its average volume of 649,556. The company has a market cap of $42.04 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 3.41 and a beta of 1.55. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $530.73. The business's 50-day moving average is $473.11 and its 200-day moving average is $444.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

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

IDEXX Laboratories Company 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.