IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Position Lifted by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 481,140 shares of the company's stock after purchasing an additional 42,364 shares during the period. Royal Bank of Canada owned 0.59% of IDEXX Laboratories worth $198,923,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. Rafferty Asset Management LLC raised its stake in IDEXX Laboratories by 27.7% during the 4th quarter. Rafferty Asset Management LLC now owns 40,900 shares of the company's stock valued at $16,910,000 after purchasing an additional 8,870 shares during the period. Raiffeisen Bank International AG bought a new stake in IDEXX Laboratories during the 4th quarter valued at approximately $41,847,000. ProShare Advisors LLC raised its stake in IDEXX Laboratories by 20.0% during the 4th quarter. ProShare Advisors LLC now owns 123,097 shares of the company's stock valued at $50,893,000 after purchasing an additional 20,557 shares during the period. Mufg Securities Americas Inc. bought a new stake in IDEXX Laboratories during the 4th quarter valued at approximately $500,000. Finally, Nissay Asset Management Corp Japan ADV raised its stake in IDEXX Laboratories by 3.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 18,688 shares of the company's stock valued at $7,754,000 after purchasing an additional 698 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

IDXX traded down $4.52 during trading on Tuesday, hitting $517.16. 606,894 shares of the stock were exchanged, compared to its average volume of 649,204. The firm has a market capitalization of $41.59 billion, a P/E ratio of 48.47, a PEG ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.60. The stock has a fifty day moving average price of $435.69 and a two-hundred day moving average price of $432.77. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly 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. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same period in the previous year, the business earned $2.71 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IDXX. Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, May 9th. Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Stifel Nicolaus boosted their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research report on Monday. Three equities research 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $536.00.

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.