IDEXX Laboratories, Inc. (NASDAQ:IDXX) Short Interest Update

IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Free Report) saw a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,800,000 shares, an increase of 6.5% from the February 29th total of 1,690,000 shares. Based on an average daily volume of 415,900 shares, the short-interest ratio is presently 4.3 days. Currently, 2.2% of the company’s stock are short sold.

Insider Activity

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 over the last three months. Corporate insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of hedge funds have recently modified their holdings of the business. Valley National Advisers Inc. boosted its holdings in shares of IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. bought a new position in IDEXX Laboratories in the 3rd quarter worth about $26,000. OFI Invest Asset Management bought a new position in shares of IDEXX Laboratories during the third quarter valued at approximately $25,000. DSM Capital Partners LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $33,000. Finally, Private Wealth Management Group LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $34,000. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on IDXX. BNP Paribas began coverage on IDEXX Laboratories in a report on Thursday, December 7th. They set an “outperform” rating and a $602.00 target price on the stock. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Friday, January 5th. Finally, Barclays lifted their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $591.50.

Read Our Latest Analysis on IDEXX Laboratories

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $521.67 on Wednesday. The stock’s 50 day simple moving average is $548.88 and its two-hundred day simple moving average is $503.75. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The stock has a market cap of $43.32 billion, a price-to-earnings ratio of 51.80, a PEG ratio of 2.92 and a beta of 1.26. IDEXX Laboratories has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 EPS. As a group, analysts expect that IDEXX Laboratories will post 11.15 earnings per share for the current fiscal year.

About IDEXX Laboratories

(Get Free Report)

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.

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