Edgestream Partners L.P. Acquires 2,849 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Edgestream Partners L.P. grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 21,262 shares of the company’s stock after buying an additional 2,849 shares during the period. Edgestream Partners L.P.’s holdings in IDEXX Laboratories were worth $8,929,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 3,766.7% during the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company’s stock valued at $49,000 after buying an additional 113 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in IDEXX Laboratories in the first quarter worth approximately $229,000. Banque Transatlantique SA bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $2,681,000. Wealth Enhancement Advisory Services LLC grew its stake in IDEXX Laboratories by 13.0% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company’s stock worth $10,731,000 after purchasing an additional 2,931 shares in the last quarter. Finally, GAMMA Investing LLC grew its stake in IDEXX Laboratories by 42.7% in the first quarter. GAMMA Investing LLC now owns 2,187 shares of the company’s stock worth $918,000 after purchasing an additional 654 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 1.4%

Shares of NASDAQ IDXX opened at $533.37 on Monday. 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 capitalization of $42.89 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 3.89 and a beta of 1.54. The stock’s fifty day simple moving average is $519.68 and its two-hundred day simple moving average is $459.58. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $549.52.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results 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. The business had revenue of $998.43 million for the quarter, compared to analysts’ expectations of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 EPS. As a group, analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the 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 completion of the sale, the director directly owned 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of several research analyst reports. Morgan Stanley increased their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a “buy” rating and a $625.00 price objective on the stock. Wall Street Zen raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday. Stifel Nicolaus increased their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a “hold” rating in a research note on Wednesday, July 2nd. Finally, Leerink Partners increased their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. Three investment 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 stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $558.11.

IDEXX Laboratories 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.