Caxton Associates LP Acquires New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Caxton Associates LP acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 927 shares of the company’s stock, valued at approximately $501,000.

A number of other hedge funds have also recently added to or reduced their stakes in IDXX. Vanguard Group Inc. lifted its position in shares of IDEXX Laboratories by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after acquiring an additional 98,387 shares during the period. Franklin Resources Inc. lifted its position in shares of IDEXX Laboratories by 2.1% during the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after acquiring an additional 28,475 shares during the period. Capital World Investors lifted its position in shares of IDEXX Laboratories by 1.1% during the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after acquiring an additional 11,351 shares during the period. Norges Bank acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $512,190,000. Finally, International Assets Investment Management LLC lifted its position in shares of 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. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity

In other news, Director Bruce L. Claflin sold 200 shares of the business’s 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 of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Barclays dropped their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They set a “buy” rating and a $580.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $585.89.

IDEXX Laboratories Stock Up 0.4 %

IDXX stock opened at $474.69 on Wednesday. The stock has a market capitalization of $39.20 billion, a P/E ratio of 45.95, a PEG ratio of 3.87 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a 50 day moving average price of $491.58 and a two-hundred day moving average price of $515.87.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million during 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%. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11 EPS for the current year.

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.