Inspire Advisors LLC Purchases 60 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Inspire Advisors LLC lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.5% in the first quarter, Holdings Channel.com reports. The firm owned 977 shares of the company’s stock after purchasing an additional 60 shares during the quarter. Inspire Advisors LLC’s holdings in IDEXX Laboratories were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. Norges Bank purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $512,190,000. International Assets Investment Management LLC boosted its holdings in IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after acquiring an additional 546,775 shares during the period. Capital Research Global Investors purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $135,910,000. TD Asset Management Inc boosted its holdings in IDEXX Laboratories by 178.8% during the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after acquiring an additional 166,751 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $78,001,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 1.1 %

IDXX stock traded up $5.33 on Tuesday, reaching $488.03. 269,988 shares of the company traded hands, compared to its average volume of 464,803. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. The company has a market cap of $40.31 billion, a P/E ratio of 47.04, a price-to-earnings-growth ratio of 4.02 and a beta of 1.32. The firm has a fifty day simple moving average of $500.53 and a 200-day simple moving average of $521.32.

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

Insider Activity at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the transaction, the director now owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays dropped their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, Morgan Stanley dropped their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $586.63.

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.