Caitong International Asset Management Co. Ltd Buys Shares of 410 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Caitong International Asset Management Co. Ltd bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 1st quarter, Holdings Channel reports. The institutional investor bought 410 shares of the company’s stock, valued at approximately $172,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in IDEXX Laboratories by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 9,855,937 shares of the company’s stock worth $4,139,001,000 after buying an additional 146,427 shares during the period. Bamco Inc. NY raised its stake in IDEXX Laboratories by 4.3% during the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after buying an additional 82,264 shares during the period. Invesco Ltd. raised its stake in IDEXX Laboratories by 0.5% during the 1st quarter. Invesco Ltd. now owns 1,166,406 shares of the company’s stock worth $489,832,000 after buying an additional 5,418 shares during the period. Principal Financial Group Inc. raised its stake in IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock worth $472,865,000 after buying an additional 414,802 shares during the period. Finally, GAMMA Investing LLC raised its stake in IDEXX Laboratories by 59,810.7% during the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock worth $3,856,950,000 after buying an additional 916,898 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX opened at $663.92 on Thursday. The business’s 50-day moving average price is $553.29 and its two-hundred day moving average price is $483.95. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $688.12. The company has a market capitalization of $53.11 billion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 4.22 and a beta of 1.49. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.11 and a quick ratio of 0.79.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating 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 return on equity of 64.42% and a net margin of 24.41%. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. Equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus set a $640.00 price objective on IDEXX Laboratories in a research note on Monday, August 4th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 price objective on the stock. Morgan Stanley set a $722.00 price objective on IDEXX Laboratories and gave the stock an “overweight” rating in a research note on Tuesday, August 5th. JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $550.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, August 4th. Finally, Leerink Partners lifted their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, July 17th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $644.67.

Insiders Place Their Bets

In related news, CEO Jonathan Jay Mazelsky sold 29,260 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $631.98, for a total value of $18,491,734.80. Following the sale, the chief executive officer owned 83,311 shares of the company’s stock, valued at approximately $52,650,885.78. The trade was a 25.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Sharon E. Underberg sold 5,450 shares of IDEXX Laboratories stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $651.60, for a total value of $3,551,220.00. Following the completion of the sale, the executive vice president directly owned 6,156 shares in the company, valued at approximately $4,011,249.60. This represents a 46.96% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 53,770 shares of company stock valued at $33,796,794 in the last quarter. 0.98% of the stock is currently owned by corporate insiders.

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.