Carnegie Investment Counsel Invests $814,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Carnegie Investment Counsel has invested $814,000 in IDEXX Laboratories, acquiring 1,975 shares during the 1st quarter.
• IDEXX Laboratories reported an earnings per share (EPS) of $2.96 for the last quarter, exceeding analysts' expectations of $2.93.
• Several institutional investors, including Wedbush Securities and Universal Beteiligungs, have increased their stakes in IDEXX Laboratories significantly during the 1st quarter.

Carnegie Investment Counsel acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,975 shares of the company's stock, valued at approximately $814,000.

Several other institutional investors have also modified their holdings of IDXX. Wedbush Securities Inc. raised its position in IDEXX Laboratories by 1.3% in the 1st quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock valued at $901,000 after purchasing an additional 28 shares during the last quarter. SYM FINANCIAL Corp raised its position in IDEXX Laboratories by 40.6% in the 1st quarter. SYM FINANCIAL Corp now owns 1,880 shares of the company's stock valued at $790,000 after purchasing an additional 543 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH raised its position in IDEXX Laboratories by 60.1% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 150,298 shares of the company's stock valued at $63,118,000 after purchasing an additional 56,408 shares during the last quarter. Choreo LLC raised its position in IDEXX Laboratories by 4.3% in the 1st quarter. Choreo LLC now owns 1,544 shares of the company's stock valued at $648,000 after purchasing an additional 64 shares during the last quarter. Finally, Crystal Rock Capital Management raised its position in IDEXX Laboratories by 24.2% in the 1st quarter. Crystal Rock Capital Management now owns 11,185 shares of the company's stock valued at $4,697,000 after purchasing an additional 2,180 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $565.19 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. The stock has a market capitalization of $45.45 billion, a P/E ratio of 52.24, a P/E/G ratio of 4.00 and a beta of 1.54. The company's fifty day moving average is $526.59 and its two-hundred day moving average is $466.93. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $568.47.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $998.25 million. During the same period in the prior year, the company posted $2.71 EPS. The business's revenue for the quarter was up 3.6% on a year-over-year basis. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other 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 transaction, the director directly owned 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on IDXX. Leerink Partners upped their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average target price of $557.88.

IDEXX Laboratories 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.

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