United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• United Super Pty Ltd increased its stake in IDEXX Laboratories by 63.6% during the first quarter, owning a total of 1,800 shares valued at approximately $756,000.
• IDEXX Laboratories reported quarterly earnings of $2.96 per share, beating analyst expectations by 3 cents, with a revenue increase of 3.6% year-over-year.
• Equities analysts have been optimistic, with target prices for IDEXX Laboratories ranging from $540 to $625, with a consensus rating of "Moderate Buy."

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 63.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,800 shares of the company's stock after buying an additional 700 shares during the quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund's holdings in IDEXX Laboratories were worth $756,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 3,766.7% in the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after purchasing an additional 113 shares during the last quarter. Sagespring Wealth Partners LLC bought a new stake in shares of IDEXX Laboratories in the 1st quarter valued at about $229,000. Banque Transatlantique SA acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $2,681,000. Wealth Enhancement Advisory Services LLC boosted its stake in IDEXX Laboratories by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after purchasing an additional 2,931 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in IDEXX Laboratories by 42.7% during the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after buying an additional 654 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IDXX shares. Leerink Partners lifted their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. BTIG Research boosted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report 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 note on Tuesday. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $623.56.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the company'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 sale, the director directly owned 1,801 shares in the company, valued at approximately $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Trading Down 2.2%

NASDAQ:IDXX traded down $14.33 on Wednesday, reaching $627.61. 486,212 shares of the company's stock were exchanged, compared to its average volume of 738,478. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $50.47 billion, a price-to-earnings ratio of 52.16, a price-to-earnings-growth ratio of 4.71 and a beta of 1.49. The business has a fifty day moving average of $537.43 and a 200-day 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 issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. As a group, analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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.