Resona Asset Management Co. Ltd. Boosts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in IDEXX Laboratories, Inc. by 5.6%, owning 26,824 shares valued at $11.25 million, as reported in their latest 13F filing.
• Several other hedge funds have also adjusted their positions in IDEXX Laboratories, with a majority of the company's stock (87.84%) currently held by institutional investors.
• Wall Street analysts are optimistic, with a consensus rating of "Moderate Buy" and an average target price of $644.67 for IDEXX Laboratories, reflecting strong growth forecasts.

Resona Asset Management Co. Ltd. lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,824 shares of the company's stock after purchasing an additional 1,434 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in IDEXX Laboratories were worth $11,248,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of IDXX. MorganRosel Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares during the last quarter. Colonial Trust Co SC increased its stake in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after acquiring an additional 39 shares in the last quarter. Bank of Jackson Hole Trust boosted its position in shares of IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock valued at $39,000 after buying an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in IDEXX Laboratories by 540.0% in 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 during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Nimrata Hunt sold 1,200 shares of the business's stock in a transaction on Monday, August 11th. The stock was sold at an average price of $656.53, for a total transaction of $787,836.00. Following the transaction, the executive vice president directly owned 16,807 shares in the company, valued at $11,034,299.71. The trade was a 6.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sharon E. Underberg sold 5,450 shares of the business's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $651.60, for a total value of $3,551,220.00. Following the transaction, the executive vice president owned 6,156 shares in the company, valued at approximately $4,011,249.60. This trade represents a 46.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,176 shares of company stock worth $34,060,678. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Trading Down 0.5%

IDEXX Laboratories stock traded down $3.11 during midday trading on Friday, reaching $650.84. The stock had a trading volume of 418,031 shares, compared to its average volume of 851,260. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The firm has a market cap of $52.07 billion, a price-to-earnings ratio of 54.19, a price-to-earnings-growth ratio of 4.21 and a beta of 1.49. The company has a fifty day moving average of $558.44 and a 200 day moving average of $487.59.

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

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent analyst reports. Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday, August 4th. Leerink Partners raised their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $649.44.

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.