Lake Street Advisors Group LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Lake Street Advisors Group LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 932 shares of the company’s stock, valued at approximately $517,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Gotham Asset Management LLC increased its holdings in shares of IDEXX Laboratories by 79.9% in the 3rd quarter. Gotham Asset Management LLC now owns 17,427 shares of the company’s stock valued at $7,620,000 after acquiring an additional 7,741 shares during the last quarter. NewEdge Wealth LLC raised its stake in IDEXX Laboratories by 30.4% during the third quarter. NewEdge Wealth LLC now owns 639 shares of the company’s stock worth $279,000 after acquiring an additional 149 shares during the period. Assenagon Asset Management S.A. lifted its holdings in IDEXX Laboratories by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock worth $24,196,000 after acquiring an additional 8,831 shares during the last quarter. Carderock Capital Management Inc. grew its holdings in shares of IDEXX Laboratories by 35.7% during the fourth quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock valued at $9,112,000 after purchasing an additional 4,315 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of IDEXX Laboratories by 9.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 42,045 shares of the company’s stock worth $23,307,000 after purchasing an additional 3,627 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the transaction, the director now owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.18% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock traded up $5.76 on Wednesday, hitting $496.82. 143,854 shares of the company’s stock traded hands, compared to its average volume of 457,794. The stock has a market cap of $41.03 billion, a price-to-earnings ratio of 47.54, a P/E/G ratio of 4.02 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average of $505.63 and a 200-day moving average of $526.70.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $964.10 million during the quarter, compared to the consensus estimate of $965.43 million. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.03 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on IDXX. Barclays dropped their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. JPMorgan Chase & Co. lifted their target price on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. Morgan Stanley lowered their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $580.38.

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.