Geneva Capital Management LLC Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Geneva Capital Management LLC reduced its holdings in IDEXX Laboratories by 1.7%, owning 42,594 shares valued at $17.89 million after selling 736 shares in the 1st quarter.
• Hedge funds currently command 87.84% ownership of IDEXX Laboratories, with several institutional investors making significant stake increases, including GAMMA Investing LLC's staggering 59,810.7% increase.
• Multiple analysts have upgraded their ratings on IDEXX Laboratories, with the stock currently having an average rating of "Moderate Buy" and a consensus price target of $557.88.

Geneva Capital Management LLC lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 42,594 shares of the company's stock after selling 736 shares during the quarter. Geneva Capital Management LLC owned approximately 0.05% of IDEXX Laboratories worth $17,887,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IDXX. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the first quarter valued at $26,000. Hurley Capital LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $29,000. Colonial Trust Co SC grew its position in 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 purchasing an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares during the period. Finally, Bank of Jackson Hole Trust grew its stake in IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after acquiring an additional 69 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on IDXX shares. Leerink Partners boosted their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research note on Monday. Morgan Stanley set a $722.00 target price on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a research report on Tuesday. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Finally, JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $623.56.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories 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 sale, the director owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $17.75 on Wednesday, reaching $624.19. 816,294 shares of the company's stock were exchanged, compared to its average volume of 770,026. The firm has a market cap of $50.20 billion, a price-to-earnings ratio of 51.97, a P/E/G ratio of 4.32 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.81. The stock has a fifty day simple moving average of $537.43 and a 200-day simple moving average of $475.11. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.