Envestnet Asset Management Inc. Purchases 12,255 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Envestnet Asset Management Inc. grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 161,829 shares of the company's stock after acquiring an additional 12,255 shares during the period. Envestnet Asset Management Inc. owned about 0.20% of IDEXX Laboratories worth $67,960,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the first quarter worth about $26,000. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $29,000. Colonial Trust Co SC increased its holdings in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after acquiring an additional 39 shares during the last quarter. Itau Unibanco Holding S.A. increased its holdings in shares of IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the last quarter. Finally, Retirement Wealth Solutions LLC raised its stake in IDEXX Laboratories by 40.0% in the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after acquiring an additional 30 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 value of $645,548.40. Following the completion of the sale, the director owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on IDXX shares. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Morgan Stanley boosted 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, Leerink Partners increased their target price on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $558.11.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $533.37 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. The firm has a 50-day moving average of $519.68 and a 200-day moving average of $458.97. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $549.52. The company has a market cap of $42.89 billion, a P/E ratio of 49.29, a P/E/G ratio of 3.95 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $998.25 million. During the same quarter last year, the company posted $2.71 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal 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.

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