Mackenzie Financial Corp Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mackenzie Financial Corp lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 236.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,520 shares of the company's stock after purchasing an additional 110,000 shares during the quarter. Mackenzie Financial Corp owned about 0.19% of IDEXX Laboratories worth $64,712,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Hurley Capital LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at $29,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at $30,000. Colonial Trust Co SC grew its holdings in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at $38,000. Finally, Itau Unibanco Holding S.A. grew its holdings in IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 1.0%

IDEXX Laboratories stock traded down $4.90 during trading on Friday, reaching $510.65. 160,236 shares of the company's stock were exchanged, compared to its average volume of 648,967. The company's 50-day moving average is $447.90 and its two-hundred day moving average is $436.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $530.60. The firm has a market cap of $41.07 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. During the same period in the prior year, the company earned $2.71 EPS. The firm's revenue was up 3.6% on a year-over-year basis. On average, analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Morgan Stanley increased their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Bank of America increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus increased their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research note on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $536.00.

Insider Buying and Selling

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

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.