Natixis Advisors LLC Has $20.06 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Natixis Advisors LLC increased its stake in IDEXX Laboratories by 5.7%, owning 47,761 shares valued at $20.06 million after acquiring an additional 2,590 shares during the first quarter.
• Analysts have been optimistic about IDEXX, with multiple upgrades; Jefferies Financial Group initiated coverage with a "buy" rating and a price target of $625, while a consensus rating of "Moderate Buy" and an average target price of $557.88 were established.
• IDEXX Laboratories' stock opened at $535.54 and reported quarterly earnings of $2.96 per share, beating estimates, with the company experiencing a 3.6% revenue growth year-over-year.

Natixis Advisors LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,761 shares of the company's stock after purchasing an additional 2,590 shares during the quarter. Natixis Advisors LLC owned 0.06% of IDEXX Laboratories worth $20,057,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IDXX. MorganRosel Wealth Management LLC purchased a new position in IDEXX Laboratories in the first quarter valued at about $26,000. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth approximately $29,000. Colonial Trust Co SC boosted its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after acquiring an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its position in IDEXX Laboratories by 55.6% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after acquiring an additional 30 shares in the last quarter. Finally, Itau Unibanco Holding S.A. lifted its position in shares of IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insiders Place Their Bets

In other IDEXX Laboratories 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 completion of the sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.98% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $17.75 during mid-day trading on Wednesday, hitting $624.19. The stock had a trading volume of 816,294 shares, compared to its average volume of 740,817. The company has a 50 day simple moving average of $537.43 and a 200-day simple moving average of $475.11. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $50.20 billion, a price-to-earnings ratio of 51.97, a P/E/G ratio of 4.71 and a beta of 1.49. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%. The company's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the company earned $2.44 earnings per share. On average, research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on IDXX shares. JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Leerink Partners upped their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a research report on Thursday, July 17th. BTIG Research upped their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $623.56.

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.