Mogy Joel R Investment Counsel Inc. Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mogy Joel R Investment Counsel Inc. grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,724 shares of the company’s stock after buying an additional 6,400 shares during the period. IDEXX Laboratories accounts for 2.3% of Mogy Joel R Investment Counsel Inc.’s investment portfolio, making the stock its 16th largest holding. Mogy Joel R Investment Counsel Inc. owned about 0.11% of IDEXX Laboratories worth $36,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the stock. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the fourth quarter worth approximately $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $30,000. Colonial Trust Co SC increased its holdings in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock valued at $35,000 after acquiring an additional 39 shares during the period. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter valued at $38,000. Finally, Itau Unibanco Holding S.A. raised its position in IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent research reports. Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Stifel Nicolaus upped their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a research note on Monday, May 19th. Morgan Stanley increased their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Finally, Leerink Partners lifted their target price on IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $546.00.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company’s stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director now owns 1,801 shares of the company’s stock, valued at approximately $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $524.18 on Thursday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $530.73. The company has a 50-day simple moving average of $466.92 and a 200-day simple moving average of $442.89. The company has a market capitalization of $42.16 billion, a PE ratio of 49.13, a P/E/G ratio of 3.41 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. During the same period last year, the company posted $2.71 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

IDEXX Laboratories Profile

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.