Lyell Wealth Management LP Purchases 1,342 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Lyell Wealth Management LP increased its stake in IDEXX Laboratories by 6.4%, holding 22,465 shares valued at approximately $9.43 million at the end of the first quarter.
• Recent analyst ratings for IDEXX Laboratories have been positive, with several brokerages upgrading the stock to a "buy" rating and raising price targets, reflecting a consensus rating of "Moderate Buy."
• IDEXX Laboratories reported earnings per share of $2.96 for the most recent quarter, beating analyst estimates and showing a revenue increase of 3.6% compared to the same quarter last year.

Lyell Wealth Management LP lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,465 shares of the company's stock after acquiring an additional 1,342 shares during the quarter. Lyell Wealth Management LP's holdings in IDEXX Laboratories were worth $9,434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in IDEXX Laboratories by 59,810.7% in the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after purchasing an additional 916,898 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in IDEXX Laboratories by 58.3% in the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after purchasing an additional 414,802 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in IDEXX Laboratories in the 4th quarter valued at $156,412,000. BNP Paribas Financial Markets raised its holdings in shares of IDEXX Laboratories by 221.3% during the 4th quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company's stock worth $182,459,000 after acquiring an additional 303,966 shares during the period. Finally, Montrusco Bolton Investments Inc. purchased a new position in shares of IDEXX Laboratories during the 1st quarter worth $120,008,000. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on IDXX. Morgan Stanley raised their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price on the stock. Leerink Partners increased their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Finally, Stifel Nicolaus increased their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus price target of $557.88.

Insider Activity

In related 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 sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Up 0.2%

NASDAQ:IDXX traded up $1.23 on Friday, hitting $535.54. 760,497 shares of the company's stock traded hands, compared to its average volume of 518,616. The company has a market cap of $43.07 billion, a PE ratio of 49.50, a price-to-earnings-growth ratio of 3.81 and a beta of 1.49. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $579.47. The firm has a 50-day moving average price of $531.30 and a 200-day moving average price of $471.47.

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 for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. The firm had revenue of $998.43 million for 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 business's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.71 earnings per share. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

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.