E Fund Management Co. Ltd. Purchases 1,016 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• E Fund Management Co. Ltd. increased its stake in IDEXX Laboratories by 49.2% during the first quarter, owning 3,083 shares valued at approximately $1.3 million.
• IDEXX Laboratories reported earnings of $3.63 per share for the latest quarter, exceeding analysts' expectations, and had a year-over-year revenue increase of 10.6%.
• Insider sales included CEO Jonathan Jay Mazelsky selling 29,260 shares for about $18.5 million, resulting in a 25.99% decrease in his holdings.

E Fund Management Co. Ltd. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 49.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,083 shares of the company's stock after buying an additional 1,016 shares during the period. E Fund Management Co. Ltd.'s holdings in IDEXX Laboratories were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after buying an additional 146,427 shares in the last quarter. Bamco Inc. NY grew its position in shares of IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock valued at $829,163,000 after purchasing an additional 82,264 shares in the last quarter. Invesco Ltd. grew its position in shares of IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after purchasing an additional 5,418 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after purchasing an additional 916,898 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on IDXX. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a research report on Monday, August 4th. 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 for the company. JPMorgan Chase & Co. boosted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up from $510.00) on shares of IDEXX Laboratories in a research report on Monday, August 11th. Finally, Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a research report on Friday. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus price target of $649.44.

IDEXX Laboratories Price Performance

IDXX traded down $3.11 during trading on Friday, reaching $650.84. The stock had a trading volume of 418,031 shares, compared to its average volume of 851,260. The stock has a market cap of $52.07 billion, a PE ratio of 54.19, a PEG ratio of 4.21 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.79 and a current ratio of 1.11. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The business has a 50-day moving average of $558.44 and a 200-day moving average of $487.59.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion during 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 firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 earnings per share. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 29,260 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the completion of the sale, the chief executive officer directly owned 83,311 shares of the company's stock, valued at $52,650,885.78. This represents a 25.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,176 shares of company stock valued at $34,060,678 over the last three months. 0.98% of the stock is currently owned by company 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.