Victory Capital Management Inc. increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.8% during the first quarter, Holdings Channel reports. The fund owned 8,534 shares of the company’s stock after buying an additional 901 shares during the period. Victory Capital Management Inc.’s holdings in IDEXX Laboratories were worth $1,319,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $112,138,000. Columbus Circle Investors raised its position in shares of IDEXX Laboratories by 5.9% in the first quarter. Columbus Circle Investors now owns 570,867 shares of the company’s stock valued at $88,262,000 after buying an additional 31,586 shares during the last quarter. Janus Capital Management LLC raised its position in shares of IDEXX Laboratories by 55.8% in the fourth quarter. Janus Capital Management LLC now owns 501,118 shares of the company’s stock valued at $58,766,000 after buying an additional 179,473 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of IDEXX Laboratories by 178.5% in the first quarter. Wells Fargo & Company MN now owns 384,333 shares of the company’s stock valued at $59,422,000 after buying an additional 246,325 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of IDEXX Laboratories by 38.1% in the first quarter. Bank of Montreal Can now owns 354,959 shares of the company’s stock valued at $54,879,000 after buying an additional 97,959 shares during the last quarter. Institutional investors and hedge funds own 89.11% of the company’s stock.

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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 164.38 on Tuesday. IDEXX Laboratories, Inc. has a 52-week low of $85.98 and a 52-week high of $173.01. The firm has a market cap of $14.49 billion, a P/E ratio of 60.90 and a beta of 0.53. The company’s 50-day moving average is $164.37 and its 200-day moving average is $144.59.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Friday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.16. The business had revenue of $462 million during the quarter, compared to analyst estimates of $455.10 million. IDEXX Laboratories had a negative return on equity of 706.91% and a net margin of 13.47%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post $3.05 earnings per share for the current fiscal year.

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IDXX has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Canaccord Genuity reiterated a “buy” rating and set a $180.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, June 13th. BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Stifel Nicolaus increased their target price on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, Aegis initiated coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 target price for the company. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $165.00.

In related news, Chairman Jonathan W. Ayers sold 27,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $162.69, for a total value of $4,392,630.00. Following the transaction, the chairman now directly owns 1,024,994 shares of the company’s stock, valued at approximately $166,756,273.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Giovani Twigge sold 2,572 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total value of $429,266.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,272 shares of company stock valued at $12,264,082. 2.77% of the stock is owned by corporate insiders.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

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