Means Investment CO. Inc. Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Means Investment CO. Inc. cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 36.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,121 shares of the company's stock after selling 1,213 shares during the quarter. Means Investment CO. Inc.'s holdings in IDEXX Laboratories were worth $891,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock valued at $948,279,000 after acquiring an additional 37,734 shares during the last quarter. Bamco Inc. NY increased its stake in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock worth $829,163,000 after buying an additional 82,264 shares during the period. Invesco Ltd. raised its stake in shares of IDEXX Laboratories by 6.8% during the fourth quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock valued at $479,999,000 after acquiring an additional 74,324 shares during the last quarter. Norges Bank bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $412,258,000. Finally, GAMMA Investing LLC boosted its holdings in shares of IDEXX Laboratories by 59,810.7% during the first 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 during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at IDEXX Laboratories

In related 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 transaction, the director now owns 1,801 shares in the company, 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. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Up 0.8%

IDXX stock traded up $4.07 during midday trading on Friday, hitting $523.92. The stock had a trading volume of 1,052,498 shares, compared to its average volume of 650,255. The business has a 50-day moving average of $486.81 and a two-hundred day moving average of $447.64. 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 firm has a market cap of $42.13 billion, a price-to-earnings ratio of 48.42, a price-to-earnings-growth ratio of 3.80 and a beta of 1.55. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $530.73.

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

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.