Assenagon Asset Management S.A. Has $86.74 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Assenagon Asset Management S.A. lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 52.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,551 shares of the company's stock after selling 228,498 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.25% of IDEXX Laboratories worth $86,741,000 as of its most recent filing with the Securities and Exchange Commission.

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

IDEXX Laboratories Price Performance

NASDAQ IDXX traded up $2.74 on Thursday, reaching $526.92. 379,293 shares of the stock traded hands, compared to its average volume of 649,762. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $530.73. The company has a market cap of $42.38 billion, a price-to-earnings ratio of 49.38, a P/E/G ratio of 3.41 and a beta of 1.55. The firm's fifty day simple moving average is $466.92 and its 200 day simple moving average is $442.89. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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 analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the company earned $2.71 earnings per share. IDEXX Laboratories's revenue was up 3.6% compared to the same quarter last year. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Insider Transactions at IDEXX Laboratories

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

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.