Waycross Partners LLC Has $17.20 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Waycross Partners LLC increased its holdings in IDEXX Laboratories by 26.3% in Q1, owning approximately $17.20 million worth of stock, making IDEXX its 26th largest holding.
• Several institutional investors also adjusted their positions, with notable increases including 328.6% by Bank of Jackson Hole Trust and 540.0% by Itau Unibanco Holding S.A.
• IDEXX Laboratories reported a 10.6% year-over-year revenue increase and earnings per share of $3.63 for the latest quarter, surpassing analysts' expectations.

Waycross Partners LLC grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 26.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,953 shares of the company's stock after purchasing an additional 8,515 shares during the period. IDEXX Laboratories comprises approximately 1.9% of Waycross Partners LLC's investment portfolio, making the stock its 26th biggest holding. Waycross Partners LLC owned approximately 0.05% of IDEXX Laboratories worth $17,198,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. MorganRosel Wealth Management LLC acquired a new stake in IDEXX Laboratories in the first quarter valued at $26,000. Colonial Trust Co SC grew its holdings in IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in IDEXX Laboratories by 55.6% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after purchasing an additional 30 shares during the period. Bank of Jackson Hole Trust increased its position in IDEXX Laboratories by 328.6% during the first quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after buying an additional 69 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its stake in IDEXX Laboratories by 540.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after buying an additional 81 shares during the period. Institutional investors own 87.84% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on IDXX. Jefferies Financial Group began coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Stifel Nicolaus set a $640.00 price target on IDEXX Laboratories in a report on Monday. Morgan Stanley set a $722.00 price objective on shares of IDEXX Laboratories and gave the company an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. increased their target price on IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $623.56.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $624.19 on Thursday. The company has a 50 day moving average of $539.63 and a 200-day moving average of $476.14. The company has a current ratio of 1.11, a quick ratio of 0.81 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 $50.20 billion, a PE ratio of 51.97, a price-to-earnings-growth ratio of 4.32 and a beta of 1.49.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.06 billion. IDEXX Laboratories had a return on equity of 64.42% and a net margin of 24.41%. IDEXX Laboratories's revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction 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 sale, the director owned 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company 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.

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