IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 658 shares of the company’s stock after acquiring an additional 148 shares during the quarter. Foundations Investment Advisors LLC’s holdings in IDEXX Laboratories were worth $276,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IDXX. Bamco Inc. NY lifted its holdings in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock valued at $829,163,000 after purchasing an additional 82,264 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of IDEXX Laboratories by 6.8% in the fourth 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock valued at $472,865,000 after purchasing an additional 414,802 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock valued at $3,856,950,000 after purchasing an additional 916,898 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of IDEXX Laboratories by 18.6% in the fourth quarter. Northern Trust Corp now owns 912,874 shares of the company’s stock valued at $377,419,000 after purchasing an additional 143,369 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insider Activity

In other news, Director M Anne Szostak sold 1,260 shares of the firm’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director directly owned 1,801 shares of the company’s stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $535.54 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $579.47. The stock’s 50-day moving average is $531.30 and its two-hundred day moving average is $471.47. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. The firm 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.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The company had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same period last year, the company earned $2.71 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 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.