Rafferty Asset Management LLC Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Rafferty Asset Management LLC raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Rating) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,530 shares of the company’s stock after acquiring an additional 452 shares during the period. Rafferty Asset Management LLC’s holdings in IDEXX Laboratories were worth $6,275,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Orion Portfolio Solutions LLC boosted its position in shares of IDEXX Laboratories by 9.5% during the third quarter. Orion Portfolio Solutions LLC now owns 552 shares of the company’s stock valued at $343,000 after buying an additional 48 shares during the last quarter. Creative Planning boosted its position in shares of IDEXX Laboratories by 2.6% during the third quarter. Creative Planning now owns 11,998 shares of the company’s stock valued at $7,462,000 after buying an additional 307 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of IDEXX Laboratories by 28.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 11,530 shares of the company’s stock valued at $7,171,000 after buying an additional 2,582 shares during the last quarter. Citigroup Inc. boosted its position in shares of IDEXX Laboratories by 14.1% during the third quarter. Citigroup Inc. now owns 88,953 shares of the company’s stock valued at $55,319,000 after buying an additional 10,973 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of IDEXX Laboratories by 14.3% during the third quarter. Handelsbanken Fonder AB now owns 14,347 shares of the company’s stock valued at $8,922,000 after buying an additional 1,800 shares during the last quarter. 84.92% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have issued reports on the company. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Wednesday, February 2nd. Atlantic Securities assumed coverage on IDEXX Laboratories in a research report on Tuesday, February 8th. They issued an “overweight” rating and a $650.00 target price on the stock. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Finally, Bank of America cut IDEXX Laboratories from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $550.00 to $470.00 in a research report on Thursday, May 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Buy” and an average price target of $663.67.

NASDAQ IDXX opened at $362.18 on Friday. The stock’s 50-day moving average price is $487.03 and its 200-day moving average price is $545.45. The company has a quick ratio of 0.81, a current ratio of 1.12 and a debt-to-equity ratio of 1.21. IDEXX Laboratories, Inc. has a 52 week low of $330.66 and a 52 week high of $706.95. The company has a market capitalization of $30.43 billion, a P/E ratio of 42.46, a price-to-earnings-growth ratio of 2.13 and a beta of 1.10.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.02. The company had revenue of $836.55 million for the quarter, compared to the consensus estimate of $836.47 million. IDEXX Laboratories had a return on equity of 103.70% and a net margin of 22.43%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.35 EPS. Research analysts anticipate that IDEXX Laboratories, Inc. will post 8.24 EPS for the current year.

In other IDEXX Laboratories news, Director Jonathan W. Ayers sold 250 shares of the firm’s stock in a transaction that occurred on Tuesday, February 15th. The stock was sold at an average price of $509.70, for a total transaction of $127,425.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.06% of the company’s stock.

About IDEXX Laboratories (Get Rating)

IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

See Also

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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