Intech Investment Management LLC Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Intech Investment Management LLC boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 154.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 4,090 shares of the company’s stock after acquiring an additional 2,481 shares during the period. Intech Investment Management LLC’s holdings in IDEXX Laboratories were worth $2,208,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Patron Partners LLC lifted its holdings in shares of IDEXX Laboratories by 2.7% in the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after acquiring an additional 20 shares during the last quarter. NewEdge Wealth LLC lifted its stake in IDEXX Laboratories by 3.1% during the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after purchasing an additional 20 shares in the last quarter. Manchester Capital Management LLC boosted its position in shares of IDEXX Laboratories by 11.9% during the fourth quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after buying an additional 20 shares during the period. Atomi Financial Group Inc. grew its stake in shares of IDEXX Laboratories by 3.4% in the first quarter. Atomi Financial Group Inc. now owns 637 shares of the company’s stock valued at $344,000 after buying an additional 21 shares in the last quarter. Finally, Valley National Advisers Inc. raised its holdings in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on IDXX. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Barclays dropped their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Morgan Stanley decreased their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $586.63.

Insider Activity

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the transaction, the director now owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded down $2.54 during trading hours on Friday, hitting $468.20. The stock had a trading volume of 750,302 shares, compared to its average volume of 498,827. The stock’s 50 day moving average is $499.60 and its 200 day moving average is $519.61. The firm has a market capitalization of $38.67 billion, a PE ratio of 45.32, a PEG ratio of 3.83 and a beta of 1.32. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. As a group, research analysts forecast that IDEXX Laboratories, Inc. will post 11 earnings per share for the current fiscal year.

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.