Bank Julius Baer & Co. Ltd Zurich Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank Julius Baer & Co. Ltd Zurich cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 216,966 shares of the company's stock after selling 6,875 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich owned about 0.27% of IDEXX Laboratories worth $99,026,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the first quarter worth about $26,000. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. increased its holdings in shares of IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after buying an additional 30 shares during the period. Colonial Trust Co SC increased its holdings in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the period. Finally, Itau Unibanco Holding S.A. increased its holdings in IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on IDXX. Morgan Stanley upped their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus increased their price target on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Leerink Partners increased their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Finally, Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $560.33.

IDEXX Laboratories Stock Up 1.2%

IDXX stock traded up $6.25 during trading on Tuesday, hitting $527.12. 76,583 shares of the company's stock traded hands, compared to its average volume of 639,873. The firm has a market capitalization of $42.39 billion, a P/E ratio of 48.68, a PEG ratio of 3.74 and a beta of 1.54. The business has a fifty day simple moving average of $523.58 and a two-hundred day simple moving average of $463.41. 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 1 year low of $356.14 and a 1 year high of $549.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly 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 analyst estimates of $998.25 million. During the same period in the previous year, the company earned $2.71 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction 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 transaction, the director directly owned 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by corporate insiders.

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.

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