IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Applied Finance Capital Management LLC

Key Points

• Applied Finance Capital Management LLC increased its holdings in IDEXX Laboratories by 30% during Q1, now owning 2,017 shares valued at $847,000.
• 87.84% of IDEXX stock is owned by institutional investors, reflecting strong interest from major financial entities.
• IDEXX Laboratories reported Q1 earnings of $2.96 EPS, surpassing the consensus estimate of $2.93, with revenues of $998.43 million, marking a 3.6% year-over-year growth.

Applied Finance Capital Management LLC grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 30.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,017 shares of the company's stock after buying an additional 466 shares during the quarter. Applied Finance Capital Management LLC's holdings in IDEXX Laboratories were worth $847,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of IDXX. United Capital Financial Advisors LLC increased its holdings in shares of 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. Sage Mountain Advisors LLC increased its holdings in shares of IDEXX Laboratories by 3.8% in the 1st quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after purchasing an additional 23 shares in the last quarter. PDS Planning Inc increased its holdings in shares of IDEXX Laboratories by 3.9% in the 1st quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after purchasing an additional 24 shares in the last quarter. Gabelli Funds LLC increased its holdings in shares of 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. Finally, Bigelow Investment Advisors LLC increased its holdings in shares of IDEXX Laboratories by 1.9% in the 1st quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock valued at $596,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Up 0.9%

Shares of NASDAQ IDXX traded up $5.22 during midday trading on Wednesday, reaching $578.29. 134,748 shares of the stock were exchanged, compared to its average volume of 708,026. The company has a market capitalization of $46.51 billion, a P/E ratio of 53.45, a P/E/G ratio of 4.03 and a beta of 1.54. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $577.89. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average price of $528.61 and a 200-day moving average price of $469.18.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its 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 analysts' expectations of $998.25 million. During the same period last year, the company earned $2.71 earnings per share. The company's quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction that occurred 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 sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on IDXX. Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price for the company. Morgan Stanley raised their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Leerink Partners raised their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $557.88.

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.