Fiera Capital Corp Sells 3,610 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Fiera Capital Corp reduced its position in IDEXX Laboratories by 2.6%, now holding 137,588 shares worth approximately $57.78 million.
• Several institutional investors have recently increased their holdings in IDEXX, with Golden State Wealth Management boosting theirs by an astonishing 3,766.7%.
• Analysts have raised their price targets for IDEXX Laboratories, with Leerink Partners setting a new target of $600 and a consensus average price target of $557.88, indicating a generally positive outlook.

Fiera Capital Corp lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 2.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,588 shares of the company's stock after selling 3,610 shares during the quarter. Fiera Capital Corp owned approximately 0.17% of IDEXX Laboratories worth $57,780,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Golden State Wealth Management LLC lifted its holdings in IDEXX Laboratories by 3,766.7% during the first 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 bought a new stake in IDEXX Laboratories during the first quarter worth $229,000. Banque Transatlantique SA bought a new stake in IDEXX Laboratories during the fourth quarter worth $2,681,000. Wealth Enhancement Advisory Services LLC lifted its holdings in IDEXX Laboratories by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after acquiring an additional 2,931 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in IDEXX Laboratories by 42.7% during the first quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after acquiring an additional 654 shares during the period. Institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

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

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded up $3.84 during midday trading on Friday, reaching $538.15. 412,338 shares of the company traded hands, compared to its average volume of 712,156. 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 12 month low of $356.14 and a 12 month high of $579.47. The firm has a market capitalization of $43.28 billion, a price-to-earnings ratio of 49.74, a price-to-earnings-growth ratio of 4.07 and a beta of 1.54. The firm's fifty day moving average price is $530.62 and its two-hundred day moving average price is $470.66.

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

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, the director directly owned 1,801 shares in the company, valued at $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by corporate insiders.

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.