Balentine LLC Takes $660,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Balentine LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,571 shares of the company's stock, valued at approximately $660,000.

Other large investors have also recently added to or reduced their stakes in the company. United Capital Financial Advisors LLC lifted its position in IDEXX Laboratories by 0.9% in 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 period. Sage Mountain Advisors LLC increased its stake in shares of IDEXX Laboratories by 3.8% in the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company's stock valued at $267,000 after buying an additional 23 shares in the last quarter. PDS Planning Inc increased its stake in shares of IDEXX Laboratories by 3.9% in the first quarter. PDS Planning Inc now owns 641 shares of the company's stock valued at $269,000 after buying an additional 24 shares in the last quarter. Gabelli Funds LLC increased its stake in shares of IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company's stock valued at $207,000 after buying an additional 25 shares in the last quarter. Finally, Bigelow Investment Advisors LLC boosted its holdings in IDEXX Laboratories by 1.9% in the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock valued at $596,000 after acquiring an additional 27 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Trading Down 0.8%

IDEXX Laboratories stock traded down $4.10 during trading hours on Friday, hitting $514.61. The stock had a trading volume of 329,531 shares, compared to its average volume of 642,698. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 47.56, a P/E/G ratio of 3.74 and a beta of 1.54. The business's 50 day simple moving average is $523.58 and its 200-day simple moving average is $463.04. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $549.52.

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

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, the director owned 1,801 shares in the company, valued at $922,724.34. This trade 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 through this hyperlink. Insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Stifel Nicolaus raised their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday. Jefferies Financial Group assumed 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. Morgan Stanley boosted their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus 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.