MQS Management LLC Takes $214,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

MQS Management LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 509 shares of the company's stock, valued at approximately $214,000.

Several other institutional investors and hedge funds also recently modified their holdings of IDXX. Sequoia Financial Advisors LLC raised its stake in shares of IDEXX Laboratories by 6.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,685 shares of the company's stock worth $697,000 after buying an additional 98 shares in the last quarter. Natixis Advisors LLC raised its position in IDEXX Laboratories by 4.6% during the fourth quarter. Natixis Advisors LLC now owns 45,171 shares of the company's stock valued at $18,675,000 after buying an additional 1,997 shares during the period. Cibc World Markets Corp raised its position in IDEXX Laboratories by 13.1% during the fourth quarter. Cibc World Markets Corp now owns 14,744 shares of the company's stock valued at $6,096,000 after buying an additional 1,709 shares during the period. Haven Capital Group Inc. acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $5,666,000. Finally, Horizon Investments LLC increased its holdings in shares of IDEXX Laboratories by 3.3% in the 4th quarter. Horizon Investments LLC now owns 1,296 shares of the company's stock valued at $536,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction that occurred on 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 directly owned 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the topic of several research analyst reports. Stifel Nicolaus raised their price target on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Leerink Partners upped their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. Finally, Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Three 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. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average price target of $560.33.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock traded down $2.22 during trading hours on Friday, reaching $516.49. 82,666 shares of the stock were exchanged, compared to its average volume of 642,603. The company has a market cap of $41.54 billion, a P/E ratio of 47.73, a price-to-earnings-growth ratio of 3.80 and a beta of 1.54. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $549.52. The stock has a 50 day moving average of $523.12 and a two-hundred day moving average of $462.00.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter last year, the business posted $2.71 EPS. The firm's revenue for the quarter was up 3.6% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.