S Bank Fund Management Ltd Purchases Shares of 1,275 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• S Bank Fund Management Ltd acquired a new position in IDEXX Laboratories, purchasing 1,275 shares valued at approximately $535,000.
• Insider activity included Director M Anne Szostak selling 1,260 shares and CEO Jonathan Jay Mazelsky selling 29,260 shares, indicating significant executive trading activity.
• IDEXX Laboratories reported a 10.6% year-over-year increase in revenue for the quarter, surpassing analyst expectations with earnings of $3.63 per share, compared to a consensus estimate of $3.28.

S Bank Fund Management Ltd acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,275 shares of the company's stock, valued at approximately $535,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDXX. Vanguard Group Inc. boosted its stake in shares of IDEXX Laboratories by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company's stock valued at $4,139,001,000 after buying an additional 146,427 shares during the period. Bamco Inc. NY boosted its stake in shares of IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company's stock valued at $829,163,000 after buying an additional 82,264 shares during the period. Invesco Ltd. boosted its stake in shares of IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company's stock valued at $489,832,000 after buying an additional 5,418 shares during the period. Principal Financial Group Inc. boosted its stake in shares of IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after buying an additional 414,802 shares during the period. Finally, GAMMA Investing LLC boosted its stake in shares of IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after buying an additional 916,898 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on IDXX. Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a report on Monday, August 4th. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday, August 11th. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $722.00 to $765.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, BTIG Research raised 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, August 5th. Three equities research 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $649.44.

Insider Activity at IDEXX Laboratories

In other news, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total transaction of $3,551,220.00. Following the sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. The trade was a 46.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nimrata Hunt sold 7,143 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $630.43, for a total transaction of $4,503,161.49. Following the completion of the sale, the executive vice president directly owned 18,007 shares in the company, valued at approximately $11,352,153.01. The trade was a 28.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,176 shares of company stock worth $34,060,678. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

IDXX traded down $3.11 during trading on Friday, hitting $650.84. The stock had a trading volume of 418,031 shares, compared to its average volume of 851,260. The firm has a market cap of $52.07 billion, a PE ratio of 54.19, a P/E/G ratio of 4.21 and a beta of 1.49. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $688.12. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $558.44 and a 200-day simple moving average of $487.59.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $2.44 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.