Sargent Investment Group LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sargent Investment Group LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,423 shares of the company's stock, valued at approximately $598,000.

A number of other institutional investors have also recently made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories in the 1st quarter valued at $26,000. Hurley Capital LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $29,000. Colonial Trust Co SC increased its stake in IDEXX Laboratories by 84.8% during the fourth 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. boosted its holdings 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 valued at $35,000 after acquiring an additional 30 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its holdings 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 period. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded up $6.26 during trading on Monday, reaching $520.87. The company had a trading volume of 486,761 shares, compared to its average volume of 642,074. The firm has a market capitalization of $41.89 billion, a price-to-earnings ratio of 47.56, a price-to-earnings-growth ratio of 3.74 and a beta of 1.54. The firm's 50-day simple moving average is $523.58 and its 200 day simple moving average is $463.41. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $549.52. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the previous year, the firm posted $2.71 earnings per share. The company's revenue was up 3.6% on a year-over-year basis. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on IDXX. Leerink Partners lifted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday. Morgan Stanley lifted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Stifel Nicolaus raised their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $560.33.

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.