Vanguard Group Inc. Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Vanguard Group Inc. increased its stake in IDEXX Laboratories by 1.5% during the first quarter, holding nearly 12.16% of the company, valued at approximately $4.14 billion.
• Several institutional investors, including MorganRosel Wealth Management LLC and Bank of Jackson Hole Trust, have also made recent investments or increased their stakes in IDEXX, leading to institutional ownership of 87.84%.
• Equities analysts have upgraded their outlook on IDEXX Laboratories, with target prices ranging from $625.00 to $785.00, reflecting a consensus rating of "Moderate Buy" and expectations of significant revenue growth.

Vanguard Group Inc. boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,855,937 shares of the company's stock after purchasing an additional 146,427 shares during the period. Vanguard Group Inc. owned approximately 12.16% of IDEXX Laboratories worth $4,139,001,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of IDXX. Mutual of America Capital Management LLC boosted its holdings in IDEXX Laboratories by 79.6% during the first quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock worth $8,160,000 after buying an additional 8,609 shares in the last quarter. Golden State Wealth Management LLC raised its holdings in IDEXX Laboratories by 3,766.7% in the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock valued at $49,000 after acquiring an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new stake in shares of IDEXX Laboratories in the 1st quarter worth about $229,000. Banque Transatlantique SA bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $2,681,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in IDEXX Laboratories by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock valued at $10,731,000 after acquiring an additional 2,931 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on IDXX. Leerink Partners boosted their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the stock 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 research note on Saturday, July 12th. 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 price target for the company. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $550.00 to $675.00 and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Stifel Nicolaus set a $640.00 target price on IDEXX Laboratories in a report on Monday, August 4th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has a consensus rating of "Moderate Buy" and a consensus price target of $644.67.

IDEXX Laboratories Trading Down 0.5%

IDXX traded down $2.99 during mid-day trading on Tuesday, hitting $649.12. 89,408 shares of the stock were exchanged, compared to its average volume of 734,049. The firm's fifty day moving average is $547.98 and its two-hundred day moving average is $481.51. The company has a current ratio of 1.11, a quick ratio of 0.79 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $688.12. The company has a market cap of $51.93 billion, a PE ratio of 54.02, a PEG ratio of 4.25 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share 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 the consensus estimate of $1.06 billion. During the same quarter in the prior year, the business earned $2.44 EPS. IDEXX Laboratories's revenue was up 10.6% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jonathan Jay Mazelsky sold 29,260 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total transaction of $18,491,734.80. Following the sale, the chief executive officer owned 83,311 shares of the company's stock, valued at approximately $52,650,885.78. This trade represents a 25.99% 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 Michael Lane sold 8,411 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $627.74, for a total value of $5,279,921.14. Following the sale, the executive vice president directly owned 7,132 shares in the company, valued at $4,477,041.68. This trade represents a 54.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,120 shares of company stock worth $29,457,738 over the last 90 days. Insiders own 0.98% of the company's stock.

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.