Gateway Investment Advisers LLC Boosts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Gateway Investment Advisers LLC boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 11.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,349 shares of the company's stock after purchasing an additional 1,274 shares during the quarter. Gateway Investment Advisers LLC's holdings in IDEXX Laboratories were worth $5,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of IDXX. Sovereign Financial Group Inc. raised its position in IDEXX Laboratories by 5.1% during the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company's stock worth $237,000 after buying an additional 23 shares during the last quarter. Mather Group LLC. raised its position in IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company's stock worth $312,000 after buying an additional 23 shares during the last quarter. Angeles Wealth Management LLC raised its position in IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company's stock worth $545,000 after buying an additional 25 shares during the last quarter. First Horizon Advisors Inc. raised its position in IDEXX Laboratories by 4.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company's stock worth $356,000 after buying an additional 27 shares during the last quarter. Finally, Concurrent Investment Advisors LLC raised its position in IDEXX Laboratories by 4.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 630 shares of the company's stock worth $318,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX traded down $9.36 during trading hours on Friday, reaching $419.26. The company's stock had a trading volume of 798,777 shares, compared to its average volume of 426,678. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The stock has a market cap of $34.33 billion, a PE ratio of 40.43, a PEG ratio of 3.52 and a beta of 1.36. The company's 50-day moving average is $423.88 and its two-hundred day moving average is $458.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The company had revenue of $975.50 million for the quarter, compared to analysts' expectations of $980.32 million. During the same period last year, the company earned $2.53 EPS. The firm's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts forecast that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm's stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now directly owns 905 shares of the company's stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.18% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on IDXX shares. StockNews.com upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Thursday, November 28th. Barclays cut their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price target for the company. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $510.00 to $500.00 and set a "hold" rating for the company in a report on Thursday, October 10th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and an average price target of $523.86.

IDEXX Laboratories 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.