Camden National Bank boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 56.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,144 shares of the company’s stock after purchasing an additional 414 shares during the quarter. Camden National Bank’s holdings in IDEXX Laboratories were worth $311,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Price T Rowe Associates Inc. MD boosted its stake in IDEXX Laboratories by 32.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock worth $875,749,000 after buying an additional 787,736 shares during the last quarter. American Century Companies Inc. raised its position in IDEXX Laboratories by 111.2% in the first quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock valued at $331,615,000 after purchasing an additional 780,846 shares during the period. Nuveen Asset Management LLC raised its position in IDEXX Laboratories by 27,381.7% in the second quarter. Nuveen Asset Management LLC now owns 568,322 shares of the company’s stock valued at $156,476,000 after purchasing an additional 566,254 shares during the period. Marshall Wace North America L.P. raised its position in IDEXX Laboratories by 1,086.6% in the first quarter. Marshall Wace North America L.P. now owns 404,041 shares of the company’s stock valued at $90,344,000 after purchasing an additional 369,991 shares during the period. Finally, Invesco Ltd. raised its position in IDEXX Laboratories by 28.2% in the second quarter. Invesco Ltd. now owns 1,472,407 shares of the company’s stock valued at $405,398,000 after purchasing an additional 323,919 shares during the period. 86.69% of the stock is currently owned by institutional investors.
NASDAQ:IDXX traded up $4.56 on Friday, reaching $276.80. The company’s stock had a trading volume of 13,027 shares, compared to its average volume of 399,076. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 4.49. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 65.34 and a beta of 0.82. IDEXX Laboratories, Inc. has a 12-month low of $176.11 and a 12-month high of $292.17. The stock has a 50 day moving average price of $276.38 and a 200 day moving average price of $261.44.
A number of equities research analysts have commented on IDXX shares. ValuEngine downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Bank of America set a $300.00 target price on IDEXX Laboratories and gave the company a “buy” rating in a research report on Friday, June 21st. Credit Suisse Group lifted their target price on IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Stifel Nicolaus lifted their target price on IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Canaccord Genuity restated a “buy” rating and issued a $285.00 target price on shares of IDEXX Laboratories in a research report on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $285.29.
In related news, insider Giovani Twigge sold 2,300 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $274.44, for a total value of $631,212.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Jonathan W. Ayers sold 20,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $262.26, for a total value of $5,245,200.00. The disclosure for this sale can be found here. Insiders sold a total of 73,305 shares of company stock worth $19,402,442 in the last quarter. Company insiders own 2.70% of the company’s stock.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
Further Reading: Strike Price
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