Bayforest Capital Ltd Raises Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bayforest Capital Ltd increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 77.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 496 shares of the company’s stock after acquiring an additional 216 shares during the quarter. Bayforest Capital Ltd’s holdings in IDEXX Laboratories were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. United Capital Financial Advisors LLC lifted its stake in IDEXX Laboratories by 0.9% in the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock worth $1,011,000 after acquiring an additional 22 shares during the period. Sage Mountain Advisors LLC lifted its stake in IDEXX Laboratories by 3.8% in the first quarter. Sage Mountain Advisors LLC now owns 635 shares of the company’s stock worth $267,000 after acquiring an additional 23 shares during the period. PDS Planning Inc lifted its stake in IDEXX Laboratories by 3.9% in the first quarter. PDS Planning Inc now owns 641 shares of the company’s stock worth $269,000 after acquiring an additional 24 shares during the period. Gabelli Funds LLC lifted its stake in IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock worth $207,000 after acquiring an additional 25 shares during the period. Finally, Bigelow Investment Advisors LLC increased its holdings in shares of IDEXX Laboratories by 1.9% in the 1st quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company’s stock valued at $596,000 after acquiring an additional 27 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

IDEXX Laboratories Stock Performance

IDXX opened at $535.54 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $579.47. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The company has a market cap of $43.07 billion, a P/E ratio of 49.50, a price-to-earnings-growth ratio of 3.80 and a beta of 1.54. The firm’s 50-day moving average price is $531.30 and its 200-day moving average price is $471.47.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The firm had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter in the prior year, the company posted $2.71 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Morgan Stanley lifted their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Leerink Partners increased their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research report on Thursday, July 17th. Wall Street Zen raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Stifel Nicolaus increased their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a “hold” rating in a research report on Wednesday, July 2nd. Finally, Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a “buy” rating and a $625.00 price target for the company. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $557.88.

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.