IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by LPL Financial LLC

LPL Financial LLC grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 37,500 shares of the company’s stock after acquiring an additional 3,963 shares during the period. LPL Financial LLC’s holdings in IDEXX Laboratories were worth $15,748,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of IDXX. Russell Investments Group Ltd. lifted its position in shares of IDEXX Laboratories by 39.5% during the 4th quarter. Russell Investments Group Ltd. now owns 70,314 shares of the company’s stock valued at $29,066,000 after acquiring an additional 19,917 shares during the last quarter. Federated Hermes Inc. raised its stake in IDEXX Laboratories by 3.1% during the 4th quarter. Federated Hermes Inc. now owns 57,979 shares of the company’s stock valued at $23,971,000 after purchasing an additional 1,725 shares during the period. Cerity Partners LLC raised its stake in IDEXX Laboratories by 4.3% during the 4th quarter. Cerity Partners LLC now owns 11,395 shares of the company’s stock valued at $5,073,000 after purchasing an additional 471 shares during the period. Bank of Montreal Can raised its stake in IDEXX Laboratories by 3.9% during the 4th quarter. Bank of Montreal Can now owns 120,276 shares of the company’s stock valued at $49,727,000 after purchasing an additional 4,511 shares during the period. Finally, Invesco Ltd. raised its stake in IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock valued at $479,999,000 after purchasing an additional 74,324 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 2.8%

IDEXX Laboratories stock opened at $624.19 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.81. The company has a market capitalization of $50.20 billion, a price-to-earnings ratio of 51.97, a PEG ratio of 4.32 and a beta of 1.49. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $688.12. The company’s fifty day moving average price is $539.63 and its two-hundred day moving average price is $476.14.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, August 4th. The company reported $3.63 EPS for the quarter, topping the consensus estimate of $3.28 by $0.35. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business’s quarterly revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 earnings per share. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the 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 directly owned 1,801 shares of the company’s stock, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on IDXX shares. Stifel Nicolaus set a $640.00 target price on shares of IDEXX Laboratories in a research note on Monday. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price on the stock. Morgan Stanley set a $722.00 target price on shares of IDEXX Laboratories and gave the company an “overweight” rating in a research note on Tuesday. Wall Street Zen raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, July 12th. Finally, Leerink Partners boosted their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Three investment 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $623.56.

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.