Stonegate Investment Group LLC Takes $2.57 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Stonegate Investment Group LLC acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 6,128 shares of the company's stock, valued at approximately $2,573,000.

A number of other institutional investors and hedge funds have also bought and sold shares of IDXX. Geode Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock valued at $948,279,000 after purchasing an additional 37,734 shares in the last quarter. Bamco Inc. NY raised its holdings in IDEXX Laboratories by 4.3% in 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 last quarter. Invesco Ltd. boosted its position in IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock worth $479,999,000 after buying an additional 74,324 shares during the period. Norges Bank acquired a new stake in IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. Finally, GAMMA Investing LLC grew its holdings in IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after acquiring an additional 916,898 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $523.92 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $530.73. The firm has a fifty day simple moving average of $486.81 and a 200 day simple moving average of $447.64. The company has a market capitalization of $42.13 billion, a PE ratio of 48.42, a P/E/G ratio of 3.80 and a beta of 1.55. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The firm had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. During the same period last year, the business posted $2.71 EPS. The business's revenue was up 3.6% compared to the same quarter last year. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the transaction, the director now directly owns 1,801 shares in the company, valued at approximately $922,724.34. This represents a 41.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.98% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research note on Monday, May 19th. Leerink Partners raised their target price on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley lifted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $546.00.

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.

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