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QRG Capital Management Inc. decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 1.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,059 shares of the company’s stock after selling 29 shares during the quarter. QRG Capital Management Inc.’s holdings in IDEXX Laboratories were worth $865,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDXX. Norges Bank acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $412,258,000. GAMMA Investing LLC boosted its stake in IDEXX Laboratories by 59,810.7% in the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock worth $3,856,950,000 after purchasing an additional 916,898 shares during the period. Alyeska Investment Group L.P. acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $156,412,000. William Blair Investment Management LLC boosted its stake in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after purchasing an additional 369,471 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in IDEXX Laboratories by 221.3% in the 4th quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company’s stock worth $182,459,000 after purchasing an additional 303,966 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.
Analyst Ratings Changes
A number of research firms recently commented on IDXX. Stifel Nicolaus raised 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. Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Leerink Partners raised their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. Finally, Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $546.00.
View Our Latest Stock Report on IDXX
IDEXX Laboratories Trading Up 0.8%
Shares of NASDAQ:IDXX opened at $523.92 on Friday. The firm has a fifty day moving average of $486.81 and a two-hundred day moving average of $447.64. The firm has a market capitalization of $42.13 billion, a P/E ratio of 48.42, a price-to-earnings-growth ratio of 3.80 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.73. 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 earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $2.71 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.
Insider Activity
In other news, Director M Anne Szostak sold 1,260 shares of the firm’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 transaction, the director now owns 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is owned by insiders.
About IDEXX Laboratories
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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