Concurrent Investment Advisors LLC Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Concurrent Investment Advisors LLC raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 59.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,370 shares of the company's stock after purchasing an additional 509 shares during the quarter. Concurrent Investment Advisors LLC's holdings in IDEXX Laboratories were worth $575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of IDXX. Golden State Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 3,766.7% during the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after acquiring an additional 113 shares during the period. Sagespring Wealth Partners LLC purchased a new stake in IDEXX Laboratories during the 1st quarter worth about $229,000. Banque Transatlantique SA purchased a new stake in IDEXX Laboratories during the 4th quarter worth about $2,681,000. Wealth Enhancement Advisory Services LLC lifted its holdings in IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after purchasing an additional 2,931 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in IDEXX Laboratories by 42.7% during the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after purchasing an additional 654 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of recent research reports. Leerink Partners increased their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. 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. Finally, Stifel Nicolaus increased their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $558.11.

Insider Transactions at IDEXX Laboratories

In related 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 transaction of $645,548.40. Following the transaction, the director directly owned 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $1.95 during trading hours on Monday, reaching $531.42. 321,686 shares of the stock traded hands, compared to its average volume of 647,246. The company has a market capitalization of $42.74 billion, a P/E ratio of 49.11, a price-to-earnings-growth ratio of 3.89 and a beta of 1.54. 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 52-week low of $356.14 and a 52-week high of $549.52. The company's 50-day simple moving average is $519.68 and its two-hundred day simple moving average is $459.58.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. IDEXX Laboratories's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period last year, the firm posted $2.71 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.