Gilbert & Cook Inc. Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Gilbert & Cook Inc. acquired a new stake in IDEXX Laboratories, buying 703 shares valued at approximately $295,000 during the first quarter.
• Major investors like Korea Investment CORP and Mitsubishi UFJ Asset Management recently increased their positions in IDEXX, showcasing heightened institutional interest with 87.84% of the stock owned by institutional investors.
• Analysts have generally upgraded their outlook on IDEXX Laboratories, with ratings ranging from "hold" to "strong buy" and a consensus target price of $557.88.

Gilbert & Cook Inc. bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 703 shares of the company's stock, valued at approximately $295,000.

Several other hedge funds have also recently modified their holdings of the stock. Carnegie Investment Counsel acquired a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $814,000. Wedbush Securities Inc. increased its holdings in shares of IDEXX Laboratories by 1.3% during the 1st quarter. Wedbush Securities Inc. now owns 2,145 shares of the company's stock valued at $901,000 after acquiring an additional 28 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in IDEXX Laboratories by 40.6% in the 1st quarter. SYM FINANCIAL Corp now owns 1,880 shares of the company's stock valued at $790,000 after buying an additional 543 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in IDEXX Laboratories by 60.1% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 150,298 shares of the company's stock worth $63,118,000 after purchasing an additional 56,408 shares during the period. Finally, Choreo LLC boosted its stake in IDEXX Laboratories by 4.3% in the 1st quarter. Choreo LLC now owns 1,544 shares of the company's stock valued at $648,000 after buying an additional 64 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Leerink Partners lifted their price objective on 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 upped their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Finally, Stifel Nicolaus increased their price target on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Three 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $557.88.

IDEXX Laboratories Stock Performance

IDXX stock traded up $15.22 during midday trading on Friday, reaching $565.19. 1,071,473 shares of the company's stock traded hands, compared to its average volume of 425,413. The firm has a market capitalization of $45.45 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 4.11 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $568.47. The company has a 50-day moving average price of $526.59 and a two-hundred day moving average price of $467.17.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results 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 net margin of 22.76% and a return on equity of 57.35%. The company's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.71 earnings per share. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were 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 of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is currently owned by 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.