Korea Investment CORP Buys 23,000 Shares of IDEXX Laboratories, Inc. (IDXX)
Korea Investment CORP lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 28.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 105,013 shares of the company’s stock after buying an additional 23,000 shares during the period. Korea Investment CORP owned approximately 0.12% of IDEXX Laboratories worth $22,887,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Ropes Wealth Advisors LLC lifted its stake in IDEXX Laboratories by 19.5% during the second quarter. Ropes Wealth Advisors LLC now owns 5,832 shares of the company’s stock worth $1,271,000 after purchasing an additional 952 shares during the last quarter. KCM Investment Advisors LLC bought a new stake in IDEXX Laboratories during the second quarter worth $210,000. Envestnet Asset Management Inc. lifted its stake in IDEXX Laboratories by 302.3% during the second quarter. Envestnet Asset Management Inc. now owns 29,647 shares of the company’s stock worth $6,462,000 after purchasing an additional 22,278 shares during the last quarter. Chilton Investment Co. LLC lifted its stake in IDEXX Laboratories by 10.4% during the second quarter. Chilton Investment Co. LLC now owns 269,367 shares of the company’s stock worth $58,706,000 after purchasing an additional 25,287 shares during the last quarter. Finally, AGF Investments Inc. lifted its stake in IDEXX Laboratories by 3.9% during the second quarter. AGF Investments Inc. now owns 351,098 shares of the company’s stock worth $76,518,000 after purchasing an additional 13,097 shares during the last quarter. Institutional investors and hedge funds own 91.19% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $274.00 target price for the company in a research note on Thursday, August 2nd. Credit Suisse Group upped their price target on shares of IDEXX Laboratories from $228.00 to $231.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Piper Jaffray Companies upped their price target on shares of IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $244.00.
Shares of NASDAQ:IDXX opened at $244.26 on Friday. The firm has a market cap of $21.27 billion, a PE ratio of 74.47, a P/E/G ratio of 2.25 and a beta of 0.64. The company has a debt-to-equity ratio of -14.77, a current ratio of 0.96 and a quick ratio of 0.73. IDEXX Laboratories, Inc. has a 52-week low of $146.09 and a 52-week high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.06. The business had revenue of $580.75 million during the quarter, compared to the consensus estimate of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. IDEXX Laboratories’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.87 earnings per share. sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 4.18 EPS for the current year.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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