Arizona State Retirement System Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arizona State Retirement System raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,992 shares of the company's stock after acquiring an additional 649 shares during the quarter. Arizona State Retirement System's holdings in IDEXX Laboratories were worth $10,075,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. United Capital Financial Advisors LLC boosted its position in IDEXX Laboratories by 0.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after acquiring an additional 22 shares in the last quarter. PDS Planning Inc lifted its holdings in shares of IDEXX Laboratories by 3.9% during the first quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after purchasing an additional 24 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of IDEXX Laboratories by 5.3% during the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company's stock valued at $207,000 after purchasing an additional 25 shares during the last quarter. Bigelow Investment Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 1.9% during the first 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 during the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of IDEXX Laboratories by 4.9% during the fourth quarter. Forum Financial Management LP now owns 621 shares of the company's stock valued at $257,000 after purchasing an additional 29 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Down 0.4%

NASDAQ IDXX traded down $1.86 during mid-day trading on Thursday, reaching $518.71. The stock had a trading volume of 367,726 shares, compared to its average volume of 644,804. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $549.52. The stock has a market cap of $41.71 billion, a PE ratio of 47.94, a price-to-earnings-growth ratio of 3.80 and a beta of 1.54. The company has a fifty day moving average price of $523.12 and a 200 day moving average price of $462.00. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81.

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

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. Leerink Partners lifted 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. Jefferies Financial Group initiated 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 lifted 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. Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. 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 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's stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $560.33.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director directly owned 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company's stock.

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.