Jupiter Asset Management Ltd. Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Jupiter Asset Management Ltd. increased its stake in IDEXX Laboratories by 19.8%, owning a total of 168,947 shares valued at approximately $70.9 million.
• Several institutional investors also raised their stakes in IDEXX, with UNIVEST FINANCIAL Corp significantly increasing its position by 266.6% during the first quarter.
• Recent analyst actions include a "buy" rating and a price target of $625.00 from Jefferies Financial Group, with a consensus "Moderate Buy" rating and target price of $557.88 for the stock.

Jupiter Asset Management Ltd. increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 19.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 168,947 shares of the company's stock after acquiring an additional 27,978 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.21% of IDEXX Laboratories worth $70,949,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Golden State Wealth Management LLC increased its stake in IDEXX Laboratories by 3,766.7% in the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after buying an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth about $229,000. Banque Transatlantique SA purchased a new position in IDEXX Laboratories in the 4th quarter worth approximately $2,681,000. Wealth Enhancement Advisory Services LLC boosted its stake in IDEXX Laboratories by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after purchasing an additional 2,931 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of IDEXX Laboratories by 42.7% during the first quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock valued at $918,000 after buying an additional 654 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday. BTIG Research lifted their target price on IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley set a $722.00 target price on IDEXX Laboratories and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $623.56.

IDEXX Laboratories Trading Down 2.4%

Shares of NASDAQ IDXX traded down $15.55 during trading hours on Wednesday, hitting $626.40. 486,212 shares of the company traded hands, compared to its average volume of 738,478. The stock has a market capitalization of $50.37 billion, a price-to-earnings ratio of 52.16, a price-to-earnings-growth ratio of 4.71 and a beta of 1.49. The company's 50 day moving average price is $537.43 and its 200 day moving average price is $475.11. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter last year, the business earned $2.44 EPS. The business's revenue was up 10.6% on a year-over-year basis. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction 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 sale, the director directly owned 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by 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.