Lazard Asset Management LLC Raises Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Lazard Asset Management LLC raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 450.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,642 shares of the company’s stock after acquiring an additional 30,804 shares during the period. Lazard Asset Management LLC’s holdings in IDEXX Laboratories were worth $20,323,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Epoch Investment Partners Inc. grew its holdings in shares of IDEXX Laboratories by 13.5% during the 1st quarter. Epoch Investment Partners Inc. now owns 179,936 shares of the company’s stock worth $97,153,000 after purchasing an additional 21,366 shares during the period. LRI Investments LLC purchased a new stake in IDEXX Laboratories during the first quarter worth approximately $63,000. Quantum Capital Management LLC NJ increased its position in shares of IDEXX Laboratories by 8.3% in the first quarter. Quantum Capital Management LLC NJ now owns 38,384 shares of the company’s stock worth $20,725,000 after acquiring an additional 2,946 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at $6,346,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of IDEXX Laboratories by 36.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 124,439 shares of the company’s stock valued at $67,188,000 after acquiring an additional 33,563 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IDXX has been the subject of several recent research reports. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. BTIG Research started coverage on IDEXX Laboratories in a research note on Thursday. They issued a “buy” rating and a $580.00 target price for the company. Barclays dropped their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $585.89.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $469.71 on Monday. The firm has a market cap of $38.79 billion, a price-to-earnings ratio of 45.47, a PEG ratio of 3.84 and a beta of 1.32. 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 business’s 50 day moving average is $493.61 and its two-hundred day moving average is $516.90. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. Analysts forecast that IDEXX Laboratories, Inc. will post 11 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Company 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.