Welch & Forbes LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 181,745 shares of the company’s stock after acquiring an additional 1,134 shares during the period. IDEXX Laboratories accounts for 1.2% of Welch & Forbes LLC’s portfolio, making the stock its 23rd largest holding. Welch & Forbes LLC’s holdings in IDEXX Laboratories were worth $49,422,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of IDEXX Laboratories by 1.2% in the second quarter. Vanguard Group Inc. now owns 9,247,387 shares of the company’s stock valued at $2,546,084,000 after acquiring an additional 112,147 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of IDEXX Laboratories by 32.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock valued at $875,749,000 after acquiring an additional 787,736 shares during the last quarter. Blair William & Co. IL raised its stake in shares of IDEXX Laboratories by 0.7% in the first quarter. Blair William & Co. IL now owns 1,582,222 shares of the company’s stock valued at $353,785,000 after acquiring an additional 10,586 shares during the last quarter. American Century Companies Inc. raised its stake in shares of IDEXX Laboratories by 111.2% in the first quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock valued at $331,615,000 after acquiring an additional 780,846 shares during the last quarter. Finally, Invesco Ltd. raised its stake in shares of IDEXX Laboratories by 28.2% in the second quarter. Invesco Ltd. now owns 1,472,407 shares of the company’s stock valued at $405,398,000 after acquiring an additional 323,919 shares during the last quarter. Institutional investors own 86.69% of the company’s stock.
IDXX stock traded up $6.18 during trading on Friday, hitting $278.42. The company had a trading volume of 5,831 shares, compared to its average volume of 399,076. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 4.49. The firm has a 50-day moving average price of $276.38 and a 200-day moving average price of $261.44. IDEXX Laboratories, Inc. has a 12 month low of $176.11 and a 12 month high of $292.17. The stock has a market cap of $23.05 billion, a price-to-earnings ratio of 65.27 and a beta of 0.82.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, August 1st. The company reported $1.43 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.06. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The firm had revenue of $620.10 million during the quarter, compared to analysts’ expectations of $627.10 million. During the same quarter in the previous year, the company posted $1.23 EPS. IDEXX Laboratories’s revenue was up 6.8% on a year-over-year basis. Equities analysts expect that IDEXX Laboratories, Inc. will post 4.86 EPS for the current year.
In related news, VP Michael Lane sold 17,961 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $264.10, for a total value of $4,743,500.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.26, for a total transaction of $5,245,200.00. The disclosure for this sale can be found here. Insiders sold a total of 73,305 shares of company stock valued at $19,402,442 in the last 90 days. 2.70% of the stock is currently owned by corporate insiders.
A number of research firms have recently issued reports on IDXX. Stifel Nicolaus lifted their target price on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Bank of America set a $300.00 target price on shares of IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, June 21st. BidaskClub upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, September 21st. Goldman Sachs Group began coverage on shares of IDEXX Laboratories in a research note on Monday, September 9th. They issued a “neutral” rating and a $277.00 target price for the company. Finally, Credit Suisse Group lifted their target price on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. IDEXX Laboratories presently has a consensus rating of “Buy” and an average target price of $285.29.
IDEXX Laboratories Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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