Norden Group LLC Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Norden Group LLC acquired a new position in IDEXX Laboratories, purchasing 570 shares valued at approximately $239,000 in the first quarter.
• Several institutional investors, including Geode Capital Management and Principal Financial Group, have increased their stakes in IDEXX, highlighting considerable institutional interest with 87.84% of stock held by hedge funds.
• IDEXX Laboratories reported earnings of $2.96 per share, exceeding analysts' estimates, with a current price target average of $557.88 from multiple analysts.

Norden Group LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to its most recent filing with the SEC. The fund purchased 570 shares of the company's stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of IDXX. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter worth $26,000. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $29,000. Colonial Trust Co SC grew its holdings in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock valued at $35,000 after purchasing an additional 30 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after purchasing an additional 81 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Up 0.2%

IDEXX Laboratories stock traded up $1.23 during trading hours on Friday, hitting $535.54. The company had a trading volume of 760,497 shares, compared to its average volume of 518,616. The firm has a market cap of $43.07 billion, a P/E ratio of 49.50, a P/E/G ratio of 3.80 and a beta of 1.54. The company has a 50-day moving average price of $531.30 and a two-hundred day moving average price of $471.47. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $579.47.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data 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. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The firm had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the previous year, the firm earned $2.71 EPS. The company's quarterly revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the transaction, the director owned 1,801 shares in the company, valued at approximately $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IDXX. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. 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 report on Monday, May 5th. Finally, Leerink Partners increased their price objective on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $557.88.

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.