Tandem Investment Advisors Inc. Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tandem Investment Advisors Inc. raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 203.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,713 shares of the company's stock after buying an additional 7,848 shares during the quarter. Tandem Investment Advisors Inc.'s holdings in IDEXX Laboratories were worth $4,919,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the first quarter valued at approximately $26,000. Hurley Capital LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $29,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth $30,000. Colonial Trust Co SC boosted its position in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after buying an additional 81 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $3.60 on Friday, hitting $546.31. The company had a trading volume of 339,027 shares, compared to its average volume of 645,880. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $548.54. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The firm has a market cap of $43.94 billion, a P/E ratio of 50.49, a price-to-earnings-growth ratio of 3.96 and a beta of 1.54. The company has a 50-day moving average price of $508.45 and a 200-day moving average price of $453.73.

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 (EPS) for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. IDEXX Laboratories's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.71 earnings per share. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company'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 completion of the transaction, the director owned 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on IDXX. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research note on Tuesday. They issued a "buy" rating and a $625.00 price target for the company. Leerink Partners lifted their target price on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Stifel Nicolaus boosted their target price on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Four research 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $558.11.

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.