Alps Advisors Inc. Makes New $357,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Alps Advisors Inc. purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 850 shares of the company's stock, valued at approximately $357,000.

A number of other hedge funds have also made changes to their positions in the stock. Allworth Financial LP lifted its position in shares of IDEXX Laboratories by 3.2% in the first quarter. Allworth Financial LP now owns 1,555 shares of the company's stock worth $686,000 after purchasing an additional 48 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of IDEXX Laboratories by 0.4% in the first quarter. Nisa Investment Advisors LLC now owns 40,218 shares of the company's stock worth $16,890,000 after purchasing an additional 169 shares in the last quarter. Moloney Securities Asset Management LLC lifted its position in shares of IDEXX Laboratories by 26.7% in the first quarter. Moloney Securities Asset Management LLC now owns 1,145 shares of the company's stock worth $481,000 after purchasing an additional 241 shares in the last quarter. Axxcess Wealth Management LLC lifted its position in shares of IDEXX Laboratories by 11.4% in the first quarter. Axxcess Wealth Management LLC now owns 2,663 shares of the company's stock worth $1,118,000 after purchasing an additional 273 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of IDEXX Laboratories by 108.0% in the first quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock worth $44,000 after purchasing an additional 54 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

IDXX stock traded down $1.86 during midday trading on Thursday, hitting $518.71. 367,726 shares of the company traded hands, compared to its average volume of 644,804. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $549.52. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The business has a 50 day simple moving average of $522.55 and a 200-day simple moving average of $461.26. The stock has a market capitalization of $41.71 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 3.80 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. IDEXX Laboratories's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $2.71 earnings per share. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the 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. This represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on IDXX shares. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Stifel Nicolaus raised their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Finally, Leerink Partners raised their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $560.33.

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.