Ninety One SA PTY Ltd Has $2.52 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ninety One SA PTY Ltd boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 34.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,008 shares of the company's stock after buying an additional 1,551 shares during the quarter. Ninety One SA PTY Ltd's holdings in IDEXX Laboratories were worth $2,523,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $412,258,000. GAMMA Investing LLC lifted its position 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 in the last quarter. Principal Financial Group Inc. lifted its position in shares of IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock worth $472,865,000 after purchasing an additional 414,802 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $156,412,000. Finally, William Blair Investment Management LLC raised its holdings in IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after acquiring an additional 369,471 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX traded down $6.72 during trading hours on Tuesday, reaching $538.84. 485,932 shares of the company's stock traded hands, compared to its average volume of 645,509. The firm has a market capitalization of $43.33 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 3.99 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $579.02. The business's fifty day simple moving average is $512.86 and its two-hundred day simple moving average is $456.11.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) 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 analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. IDEXX Laboratories's revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $2.71 earnings per share. Analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the transaction, the director directly owned 1,801 shares of the company's stock, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on IDXX. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Morgan Stanley raised their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Jefferies Financial Group began 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. Finally, Leerink Partners raised their target price 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 investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $558.11.

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.