IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Purchased by LGT Capital Partners LTD.

Key Points

• LGT Capital Partners LTD. increased its holdings in IDEXX Laboratories by 8.3%, owning 155,138 shares valued at approximately $65 million, making it the 12th largest position in their portfolio.
• IDEXX Laboratories reported earnings per share of $2.96 for the quarter, exceeding analyst expectations, with a 3.6% increase in revenue compared to the previous year.
• Multiple analysts have upgraded IDEXX Laboratories, with target prices ranging from $540.00 to $625.00, reflecting a consensus rating of "Moderate Buy."

LGT Capital Partners LTD. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 155,138 shares of the company's stock after buying an additional 11,840 shares during the quarter. IDEXX Laboratories accounts for approximately 2.9% of LGT Capital Partners LTD.'s holdings, making the stock its 12th biggest holding. LGT Capital Partners LTD. owned approximately 0.19% of IDEXX Laboratories worth $65,150,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. Wellington Management Group LLP increased its stake in shares of IDEXX Laboratories by 161.2% during the fourth quarter. Wellington Management Group LLP now owns 195,369 shares of the company's stock valued at $80,773,000 after buying an additional 120,558 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in IDEXX Laboratories during the fourth quarter worth $10,503,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in IDEXX Laboratories during the fourth quarter worth $107,000. Aviva PLC boosted its position in IDEXX Laboratories by 23.6% during the 4th quarter. Aviva PLC now owns 123,441 shares of the company's stock valued at $51,035,000 after acquiring an additional 23,542 shares in the last quarter. Finally, Investidor Profissional Gestao de Recursos Ltda. bought a new position in shares of IDEXX Laboratories in the 4th quarter worth $491,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. BTIG Research increased their price objective on IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a research note on Monday. Finally, Morgan Stanley set a $722.00 price target on IDEXX Laboratories and gave the stock an "overweight" rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $623.56.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded down $6.64 during trading hours on Wednesday, hitting $635.30. 183,928 shares of the company's stock traded hands, compared to its average volume of 736,366. The company has a market capitalization of $51.09 billion, a PE ratio of 52.88, a PEG ratio of 4.71 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. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The firm's 50-day moving average is $537.43 and its 200-day moving average is $475.11.

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

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the business's 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 directly owned 1,801 shares in the company, valued at approximately $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.98% of the stock is currently owned by company insiders.

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.