Financial Advisors Network Inc. Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Financial Advisors Network Inc. acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 432 shares of the company’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Patron Partners LLC increased its holdings in shares of IDEXX Laboratories by 2.7% during the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after acquiring an additional 20 shares during the last quarter. NewEdge Wealth LLC boosted its position in IDEXX Laboratories by 3.1% during the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares during the last quarter. Manchester Capital Management LLC raised its holdings in shares of IDEXX Laboratories by 11.9% during the fourth quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock valued at $104,000 after purchasing an additional 20 shares during the period. Phoenix Holdings Ltd. raised its holdings in shares of IDEXX Laboratories by 2.8% in the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after acquiring an additional 21 shares during the last quarter. Finally, BluePath Capital Management LLC increased its stake in IDEXX Laboratories by 1.8% in the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after buying an additional 21 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock traded up $3.18 during midday trading on Thursday, reaching $521.12. The company’s stock had a trading volume of 99,550 shares, compared to its average volume of 449,607. The firm has a market capitalization of $43.04 billion, a PE ratio of 50.14, a P/E/G ratio of 4.23 and a beta of 1.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock’s 50 day simple moving average is $510.61 and its 200 day simple moving average is $522.08.

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

Wall Street Analyst Weigh In

IDXX has been the subject of several analyst reports. Barclays cut their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Morgan Stanley decreased their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $580.38.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.11% of the stock is owned by corporate insiders.

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.