Blair William & Co. IL Sells 14,244 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Blair William & Co. IL reduced its stock position in IDEXX Laboratories by 1.3%, holding 1,090,770 shares valued at approximately $458 million, making it the 11th largest position in their portfolio.
• Several large investors, including Principal Financial Group Inc. and GAMMA Investing LLC, significantly increased their holdings in IDEXX Laboratories, with GAMMA's increase being a staggering 59,810.7% in the 1st quarter.
• Analyst ratings for IDEXX Laboratories are largely positive, with an average rating of "Moderate Buy" and a consensus price target of $557.88, reflecting market optimism for the company's growth.

Blair William & Co. IL decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,090,770 shares of the company's stock after selling 14,244 shares during the period. IDEXX Laboratories accounts for approximately 1.4% of Blair William & Co. IL's holdings, making the stock its 11th largest position. Blair William & Co. IL owned approximately 1.35% of IDEXX Laboratories worth $458,069,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the first quarter worth $26,000. Hurley Capital LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $29,000. Colonial Trust Co SC raised its holdings in shares of IDEXX Laboratories by 84.8% during the fourth 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. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares during the period. Finally, Bank of Jackson Hole Trust raised its holdings in shares of IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after purchasing an additional 69 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the company'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 sale, the director owned 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 through this link. 0.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on IDXX shares. BTIG Research upped their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday. Leerink Partners upped their price objective 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. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a report on Monday. 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 equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $623.56.

IDEXX Laboratories Stock Down 1.6%

IDEXX Laboratories stock traded down $10.42 during trading hours on Wednesday, hitting $631.52. The stock had a trading volume of 249,221 shares, compared to its average volume of 736,833. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The stock's 50-day moving average price is $537.43 and its 200-day moving average price is $475.11. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12. The stock has a market capitalization of $50.79 billion, a P/E ratio of 52.56, a price-to-earnings-growth ratio of 4.71 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's revenue was up 10.6% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.