Stonegate Investment Group LLC Invests $2.57 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Stonegate Investment Group LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 6,128 shares of the company’s stock, valued at approximately $2,573,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in IDEXX Laboratories by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock worth $948,279,000 after acquiring an additional 37,734 shares in the last quarter. Bamco Inc. NY increased its holdings in shares of IDEXX Laboratories by 4.3% during the fourth quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock valued at $829,163,000 after acquiring an additional 82,264 shares in the last quarter. Invesco Ltd. raised its position in shares of IDEXX Laboratories by 6.8% during the fourth quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock worth $479,999,000 after purchasing an additional 74,324 shares during the period. Norges Bank acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $412,258,000. Finally, GAMMA Investing LLC lifted its holdings in shares of IDEXX Laboratories by 59,810.7% in the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock worth $3,856,950,000 after purchasing an additional 916,898 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have commented on the stock. Leerink Partners boosted their price target on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, June 11th. Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Stifel Nicolaus boosted their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research report on Monday, May 19th. Finally, Morgan Stanley upped their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $546.00.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $523.92 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The stock has a market cap of $42.13 billion, a PE ratio of 48.42, a price-to-earnings-growth ratio of 3.80 and a beta of 1.55. The stock’s fifty day simple moving average is $486.81 and its two-hundred day simple moving average is $447.64. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.73.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 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 company had revenue of $998.43 million during 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 firm’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,046 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total transaction of $537,372.04. Following the transaction, the director now owns 262 shares of the company’s stock, valued at $134,599.88. This trade represents a 79.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by 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.