Mediolanum International Funds Ltd Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mediolanum International Funds Ltd lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,767 shares of the company’s stock after selling 3,703 shares during the period. Mediolanum International Funds Ltd’s holdings in IDEXX Laboratories were worth $14,874,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Phoenix Financial Ltd. raised its stake in shares of IDEXX Laboratories by 2.8% in the first quarter. Phoenix Financial Ltd. now owns 1,161 shares of the company’s stock worth $489,000 after purchasing an additional 32 shares during the last quarter. Stevens Capital Management LP increased its holdings in IDEXX Laboratories by 197.3% in the 1st quarter. Stevens Capital Management LP now owns 2,821 shares of the company’s stock worth $1,185,000 after buying an additional 1,872 shares during the period. Equitable Trust Co. raised its position in IDEXX Laboratories by 13.1% during the 1st quarter. Equitable Trust Co. now owns 1,849 shares of the company’s stock worth $776,000 after buying an additional 214 shares during the last quarter. Assetmark Inc. raised its position in IDEXX Laboratories by 56.7% during the 1st quarter. Assetmark Inc. now owns 52,955 shares of the company’s stock worth $22,238,000 after buying an additional 19,151 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of IDEXX Laboratories by 7.9% in the 1st quarter. Cetera Investment Advisers now owns 19,420 shares of the company’s stock valued at $8,155,000 after acquiring an additional 1,426 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction 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 transaction, the director directly owned 1,801 shares of the company’s stock, valued at $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $565.19 on Friday. The stock has a market capitalization of $45.45 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 4.11 and a beta of 1.54. The stock has a 50-day moving average of $526.59 and a 200 day moving average of $467.17. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $568.47.

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

Analyst Ratings Changes

Several research analysts recently issued reports on IDXX shares. Leerink Partners raised their target price on shares of 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 started coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 price objective for the company. Morgan Stanley upped their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Finally, Stifel Nicolaus boosted their price target on IDEXX Laboratories from $510.00 to $540.00 and gave the company a “hold” rating in a report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $557.88.

About IDEXX Laboratories

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.