IDEXX Laboratories, Inc. $IDXX Stock: Jefferies Financial Group Inc. Raises Position

Jefferies Financial Group Inc. raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 659.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,380 shares of the company’s stock after acquiring an additional 9,882 shares during the period. Jefferies Financial Group Inc.’s holdings in IDEXX Laboratories were worth $5,943,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Aurora Investment Managers LLC. purchased a new stake in IDEXX Laboratories in the second quarter valued at approximately $2,442,000. National Pension Service lifted its position in IDEXX Laboratories by 5.6% during the second quarter. National Pension Service now owns 129,305 shares of the company’s stock valued at $68,071,000 after purchasing an additional 6,885 shares during the last quarter. Howard Capital Management LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $1,249,000. NewEdge Advisors LLC grew its stake in IDEXX Laboratories by 60.9% in the 1st quarter. NewEdge Advisors LLC now owns 15,221 shares of the company’s stock worth $8,552,000 after buying an additional 5,761 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in IDEXX Laboratories by 4.9% in the 2nd quarter. Arizona State Retirement System now owns 22,772 shares of the company’s stock worth $11,988,000 after buying an additional 1,074 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BTIG Research dropped coverage on shares of IDEXX Laboratories in a report on Friday, October 30th. They issued a “buy” rating on the stock. Citigroup lifted their price objective on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a report on Wednesday, August 5th. KeyCorp began coverage on shares of IDEXX Laboratories in a research report on Monday, October 12th. They issued a “sector weight” rating for the company. Morgan Stanley increased their price objective on IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a research report on Tuesday, November 3rd. Finally, Barclays lowered their price target on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $717.27.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $698.02 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $558.91 and its 200 day simple moving average is $573.47. The stock has a market cap of $55.00 billion, a P/E ratio of 47.07 and a beta of 1.55. IDEXX Laboratories, Inc. has a twelve month low of $500.61 and a twelve month high of $769.98.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, November 2nd. The company reported $3.96 EPS for the quarter, topping the consensus estimate of $3.71 by $0.25. IDEXX Laboratories had a net margin of 25.36% and a return on equity of 71.04%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the business earned $3.22 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 15.05 EPS for the current year.

Insider Activity

In related news, EVP Michael Lane sold 3,979 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $688.64, for a total value of $2,740,098.56. Following the completion of the transaction, the executive vice president directly owned 4,076 shares of the company’s stock, valued at $2,806,896.64. This represents a 49.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jonathan Mazelsky sold 25,140 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $703.19, for a total transaction of $17,678,196.60. Following the completion of the sale, the insider owned 83,803 shares of the company’s stock, valued at $58,929,431.57. This trade represents a 23.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 41,428 shares of company stock worth $28,567,934. 0.79% of the stock is owned by company insiders.

IDEXX Laboratories Company Profile

IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices. The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.