Mirae Asset Global Investments Co. Ltd. Increases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mirae Asset Global Investments Co. Ltd. increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,477 shares of the company's stock after purchasing an additional 7,080 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in IDEXX Laboratories were worth $13,928,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IDXX. Sagespring Wealth Partners LLC bought a new position in shares of IDEXX Laboratories during the 1st quarter worth $229,000. Banque Transatlantique SA purchased a new stake in IDEXX Laboratories in the fourth quarter worth about $2,681,000. Wealth Enhancement Advisory Services LLC grew its holdings in IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after acquiring an additional 2,931 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in IDEXX Laboratories by 9.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,436 shares of the company's stock worth $1,007,000 after acquiring an additional 218 shares in the last quarter. Finally, NEOS Investment Management LLC increased its position in IDEXX Laboratories by 14.8% during the 4th quarter. NEOS Investment Management LLC now owns 7,014 shares of the company's stock valued at $2,900,000 after purchasing an additional 904 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director now owns 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IDXX. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Leerink Partners upped their target price on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Morgan Stanley increased their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $546.00.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $531.32 on Monday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $535.20. The business's fifty day simple moving average is $499.01 and its 200-day simple moving average is $450.94. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The company has a market cap of $42.73 billion, a PE ratio of 49.11, a PEG ratio of 3.88 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 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 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 revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $2.71 earnings per share. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.

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