First Foundation Advisors Purchases 887 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• First Foundation Advisors raised its position in IDEXX Laboratories by 11.7%, acquiring an additional 887 shares, bringing their total holdings to 8,453 shares worth approximately $3.55 million.
• Analysts have positive sentiments about IDEXX Laboratories, with recent target price increases, including Jefferies Financial Group rating it as "buy" with a price objective of $625.
• Institutional investors own 87.84% of IDEXX's stock, indicating strong interest and investment from large financial entities.

First Foundation Advisors increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,453 shares of the company's stock after purchasing an additional 887 shares during the quarter. First Foundation Advisors' holdings in IDEXX Laboratories were worth $3,550,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of IDXX. GAMMA Investing LLC raised its holdings in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after buying an additional 916,898 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after acquiring an additional 414,802 shares during the last quarter. Alyeska Investment Group L.P. acquired a new stake in IDEXX Laboratories in the fourth quarter worth about $156,412,000. BNP Paribas Financial Markets increased its position in IDEXX Laboratories by 221.3% in the fourth quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company's stock worth $182,459,000 after purchasing an additional 303,966 shares during the period. Finally, Montrusco Bolton Investments Inc. bought a new stake in IDEXX Laboratories during the 1st quarter worth about $120,008,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the transaction, the director owned 1,801 shares in the company, valued at approximately $922,724.34. This represents a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

IDXX opened at $566.50 on Tuesday. The stock has a market cap of $45.56 billion, a P/E ratio of 52.36, a P/E/G ratio of 4.11 and a beta of 1.54. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $570.36. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $527.49 and a 200 day simple moving average of $468.45.

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

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