Canada Pension Plan Investment Board Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Canada Pension Plan Investment Board raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 124,439 shares of the company’s stock after purchasing an additional 33,563 shares during the quarter. Canada Pension Plan Investment Board owned 0.15% of IDEXX Laboratories worth $67,188,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of IDEXX Laboratories by 2.0% during the third quarter. Wellington Management Group LLP now owns 3,486 shares of the company’s stock worth $1,524,000 after acquiring an additional 67 shares during the period. Mutual Advisors LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $260,000. Schechter Investment Advisors LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $256,000. Procyon Advisors LLC increased its position in shares of IDEXX Laboratories by 4.3% during the fourth quarter. Procyon Advisors LLC now owns 1,412 shares of the company’s stock worth $784,000 after acquiring an additional 58 shares during the period. Finally, Trueblood Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $228,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares in the company, valued at $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $469.71 on Friday. The company has a market cap of $38.79 billion, a price-to-earnings ratio of 45.47, a price-to-earnings-growth ratio of 3.84 and a beta of 1.32. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $493.61 and a two-hundred day moving average of $517.16.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share 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%. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on IDXX shares. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a report on Thursday. They set a “buy” rating and a $580.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Morgan Stanley cut their price objective on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $585.89.

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.