W.E. Donoghue & Co. LLC Makes New $2.64 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

W.E. Donoghue & Co. LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, Holdings Channel reports. The fund purchased 9,580 shares of the company’s stock, valued at approximately $2,638,000.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. lifted its stake in IDEXX Laboratories by 100.0% during the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares in the last quarter. Monetary Management Group Inc. acquired a new position in IDEXX Laboratories during the first quarter worth $45,000. Anderson Fisher LLC acquired a new position in IDEXX Laboratories during the first quarter worth $70,000. Northwestern Mutual Wealth Management Co. lifted its stake in IDEXX Laboratories by 37.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 361 shares of the company’s stock worth $81,000 after purchasing an additional 99 shares in the last quarter. Finally, Osborn Williams & Donohoe LLC acquired a new position in IDEXX Laboratories during the first quarter worth $90,000. Institutional investors own 88.06% of the company’s stock.

IDXX has been the topic of several analyst reports. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price objective on the stock in a research note on Friday, May 3rd. Canaccord Genuity reiterated a “buy” rating and issued a $285.00 price objective on shares of IDEXX Laboratories in a research note on Friday. Guggenheim initiated coverage on IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price objective on the stock. Stifel Nicolaus increased their price objective on IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Bank of America set a $300.00 price objective on IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, June 21st. Seven investment analysts have rated the stock with a buy rating, IDEXX Laboratories has an average rating of “Buy” and an average price target of $281.00.

Shares of NASDAQ IDXX traded up $0.55 during mid-day trading on Friday, hitting $268.85. The company had a trading volume of 17,927 shares, compared to its average volume of 300,347. The stock has a market cap of $23.08 billion, a P/E ratio of 63.01 and a beta of 0.86. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 14.81. IDEXX Laboratories, Inc. has a 1-year low of $176.11 and a 1-year high of $292.17. The business’s 50-day moving average price is $278.74.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.06. The business had revenue of $620.10 million for the quarter, compared to analysts’ expectations of $627.10 million. IDEXX Laboratories had a negative return on equity of 1,501.94% and a net margin of 17.33%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm earned $1.23 earnings per share. As a group, analysts expect that IDEXX Laboratories, Inc. will post 4.82 earnings per share for the current fiscal year.

In related news, VP Michael Lane sold 1,812 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $245.41, for a total value of $444,682.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Giovani Twigge sold 2,015 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $250.00, for a total value of $503,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,217 shares of company stock worth $3,722,197. Insiders own 2.70% of the company’s stock.

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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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

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