Los Angeles Capital Management LLC Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Los Angeles Capital Management LLC lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1,889.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,150 shares of the company's stock after acquiring an additional 19,137 shares during the period. Los Angeles Capital Management LLC's holdings in IDEXX Laboratories were worth $8,462,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories during the first quarter worth $26,000. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $29,000. Colonial Trust Co SC boosted its stake 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 valued at $35,000 after purchasing an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of IDEXX Laboratories by 55.6% in the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares in the last quarter. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of 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 buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. Leerink Partners boosted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Morgan Stanley boosted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $560.33.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded up $9.04 during trading on Thursday, reaching $549.72. The company's stock had a trading volume of 322,857 shares, compared to its average volume of 706,535. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. The stock has a market capitalization of $44.21 billion, a PE ratio of 50.76, a P/E/G ratio of 3.87 and a beta of 1.54. The firm has a fifty day moving average of $524.89 and a 200 day moving average of $465.15. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $551.10.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data 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 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 57.35% and a net margin of 22.76%. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.71 earnings per share. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories 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 of the company's stock, valued at $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is owned by company 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.