Sabal Trust CO Purchases 539 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sabal Trust CO lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 27.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,503 shares of the company's stock after purchasing an additional 539 shares during the period. Sabal Trust CO's holdings in IDEXX Laboratories were worth $1,051,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. United Capital Financial Advisors LLC boosted its holdings in IDEXX Laboratories by 0.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after acquiring an additional 22 shares during the last quarter. Gabelli Funds LLC raised its stake in shares of IDEXX Laboratories by 5.3% during the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company's stock worth $207,000 after buying an additional 25 shares during the last quarter. Bigelow Investment Advisors LLC lifted its holdings in IDEXX Laboratories by 1.9% in the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock valued at $596,000 after buying an additional 27 shares during the period. Forum Financial Management LP boosted its stake in IDEXX Laboratories by 4.9% in the fourth quarter. Forum Financial Management LP now owns 621 shares of the company's stock valued at $257,000 after acquiring an additional 29 shares during the last quarter. Finally, Grimes & Company Inc. boosted its stake in IDEXX Laboratories by 0.6% in the first quarter. Grimes & Company Inc. now owns 4,502 shares of the company's stock valued at $1,890,000 after acquiring an additional 29 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley increased their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus lifted their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday, May 19th. Finally, Leerink Partners upped their target price on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $546.00.

IDEXX Laboratories Stock Up 1.4%

IDXX traded up $7.52 during trading on Friday, hitting $535.30. The company had a trading volume of 99,363 shares, compared to its average volume of 643,380. The company has a market capitalization of $43.05 billion, a PE ratio of 49.48, a PEG ratio of 3.87 and a beta of 1.55. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $538.89. The firm's 50-day moving average price is $496.62 and its 200 day moving average price is $450.16.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $2.71 EPS. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the transaction, the director now directly owns 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.98% of the company's stock.

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.