IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 102.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,075 shares of the company’s stock after buying an additional 3,071 shares during the period. Fifth Third Bancorp’s holdings in IDEXX Laboratories were worth $2,551,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in IDXX. Blue Zone Wealth Advisors LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at about $3,958,000. Villere ST Denis J & Co. LLC increased its holdings in IDEXX Laboratories by 2.6% in the fourth quarter. Villere ST Denis J & Co. LLC now owns 62,442 shares of the company’s stock valued at $25,816,000 after buying an additional 1,556 shares in the last quarter. Alberta Investment Management Corp increased its holdings in IDEXX Laboratories by 25.3% in the fourth quarter. Alberta Investment Management Corp now owns 10,900 shares of the company’s stock valued at $4,506,000 after buying an additional 2,200 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $2,681,000. Finally, Waycross Partners LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $13,411,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

IDEXX Laboratories Stock Down 0.8%

Shares of NASDAQ IDXX opened at $522.70 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $530.73. The firm has a fifty day moving average of $473.11 and a 200-day moving average of $444.45. The stock has a market capitalization of $42.04 billion, a PE ratio of 48.99, a P/E/G ratio of 3.41 and a beta of 1.55. 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 (NASDAQ:IDXX) last posted its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The business’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.71 EPS. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current 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.