Cambridge Investment Research Advisors Inc. Lowers Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cambridge Investment Research Advisors Inc. lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,639 shares of the company’s stock after selling 562 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in IDEXX Laboratories were worth $1,948,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Sagespring Wealth Partners LLC purchased a new position in IDEXX Laboratories during the first quarter worth approximately $229,000. Banque Transatlantique SA acquired a new stake in IDEXX Laboratories in the 4th quarter valued at $2,681,000. Wealth Enhancement Advisory Services LLC increased its holdings in IDEXX Laboratories by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock worth $10,731,000 after acquiring an additional 2,931 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in IDEXX Laboratories by 9.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,436 shares of the company’s stock valued at $1,007,000 after purchasing an additional 218 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of IDEXX Laboratories by 42.7% in the first quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock valued at $918,000 after purchasing an additional 654 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred 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 sale, the director directly owned 1,801 shares in the company, valued at $922,724.34. This represents a 41.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Up 1.2%

NASDAQ:IDXX opened at $542.65 on Wednesday. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $546.39. The stock’s fifty day moving average is $504.03 and its two-hundred day moving average is $452.31. The stock has a market capitalization of $43.64 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 3.92 and a beta of 1.54. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX) last released 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. The company had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. IDEXX Laboratories’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.71 EPS. Research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IDXX shares. Leerink Partners lifted their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, June 11th. Morgan Stanley upped their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Stifel Nicolaus boosted their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a research report on Monday, May 19th. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Finally, Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday. They issued a “buy” rating and a $625.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $554.78.

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.