Montrusco Bolton Investments Inc. Takes $120.01 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Montrusco Bolton Investments Inc. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm purchased 285,768 shares of the company's stock, valued at approximately $120,008,000. IDEXX Laboratories comprises approximately 1.6% of Montrusco Bolton Investments Inc.'s portfolio, making the stock its 24th biggest holding. Montrusco Bolton Investments Inc. owned approximately 0.35% of IDEXX Laboratories as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in IDEXX Laboratories by 3,766.7% in the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after acquiring an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new position in IDEXX Laboratories in the first quarter worth about $229,000. Banque Transatlantique SA purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $2,681,000. Wealth Enhancement Advisory Services LLC raised its holdings 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 acquiring an additional 2,931 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of IDEXX Laboratories by 42.7% in the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after purchasing an additional 654 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction on 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 owned 1,801 shares of the company's stock, valued at approximately $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent analyst reports. Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. Leerink Partners increased their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Stifel Nicolaus increased their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a 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, Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $558.11.

IDEXX Laboratories Trading Down 1.2%

IDEXX Laboratories stock opened at $520.57 on Thursday. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $549.52. The firm has a market capitalization of $41.86 billion, a price-to-earnings ratio of 48.11, a P/E/G ratio of 3.84 and a beta of 1.54. The firm has a 50 day moving average of $522.55 and a 200 day moving average of $461.26. 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 (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, beating analysts' consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. IDEXX Laboratories's revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.71 EPS. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

IDEXX Laboratories 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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