IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in IDEXX Laboratories by 4.4%, owning approximately 0.69% of the company, valued at $233.15 million as of the end of the latest quarter.
• Equities analysts have significantly raised their price targets for IDEXX Laboratories, with BTIG Research setting a new target of $785.00 and others providing targets between $600.00 and $722.00, indicating strong investor confidence.
• IDEXX Laboratories recently reported a strong earnings performance, with $3.63 earnings per share for the quarter, exceeding estimates and reflecting a 10.6% revenue increase year-over-year.

Charles Schwab Investment Management Inc. lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 555,190 shares of the company's stock after buying an additional 23,498 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.69% of IDEXX Laboratories worth $233,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. ASR Vermogensbeheer N.V. acquired a new position in IDEXX Laboratories in the first quarter valued at $1,529,000. Citizens Financial Group Inc. RI boosted its stake in IDEXX Laboratories by 14.9% in the first quarter. Citizens Financial Group Inc. RI now owns 1,050 shares of the company's stock valued at $441,000 after acquiring an additional 136 shares in the last quarter. Vanguard Group Inc. boosted its stake in IDEXX Laboratories by 1.5% in the first quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after acquiring an additional 146,427 shares in the last quarter. Investidor Profissional Gestao de Recursos Ltda. boosted its stake in IDEXX Laboratories by 206.0% in the first quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 3,635 shares of the company's stock valued at $1,527,000 after acquiring an additional 2,447 shares in the last quarter. Finally, Wealthspire Advisors LLC boosted its stake in IDEXX Laboratories by 2.0% in the first quarter. Wealthspire Advisors LLC now owns 4,058 shares of the company's stock valued at $1,704,000 after acquiring an additional 79 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on IDXX shares. BTIG Research upped their price objective on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Stifel Nicolaus set a $640.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 4th. Morgan Stanley set a $722.00 price objective on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a research report on Tuesday. Leerink Partners raised their price objective 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. Finally, JPMorgan Chase & Co. raised their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research report on Monday, August 4th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $623.56.

Insider Activity

In other news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director owned 1,801 shares of the company's stock, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nimrata Hunt sold 7,143 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the sale, the executive vice president directly owned 18,007 shares in the company, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,120 shares of company stock worth $29,457,738 in the last ninety days. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Up 1.2%

Shares of NASDAQ:IDXX opened at $658.06 on Friday. The company has a market cap of $52.64 billion, a price-to-earnings ratio of 54.79, a PEG ratio of 4.25 and a beta of 1.49. The firm's 50-day simple moving average is $545.23 and its 200-day simple moving average is $479.66. The company has a quick ratio of 0.81, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $688.12.

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