Fifth Third Bancorp Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fifth Third Bancorp grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 102.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,075 shares of the company's stock after acquiring an additional 3,071 shares during the quarter. Fifth Third Bancorp's holdings in IDEXX Laboratories were worth $2,551,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hurley Capital LLC purchased a new stake in IDEXX Laboratories in the 4th quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter valued at about $30,000. Colonial Trust Co SC raised its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares during the period. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter valued at about $38,000. Finally, Itau Unibanco Holding S.A. raised its holdings in IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after buying an additional 81 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Leerink Partners upped their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Morgan Stanley upped their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $546.00.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded down $4.22 during trading hours on Friday, hitting $522.70. 411,464 shares of the company were exchanged, compared to its average volume of 650,612. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average of $473.11 and a 200-day moving average of $444.45. The stock has a market capitalization of $42.04 billion, a price-to-earnings ratio of 48.99, a P/E/G ratio of 3.41 and a beta of 1.55.

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

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director now owns 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 legal filing with the SEC, which can be accessed 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.