Next Capital Management LLC Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Next Capital Management LLC increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 81.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 191 shares of the company’s stock after acquiring an additional 86 shares during the period. Next Capital Management LLC’s holdings in IDEXX Laboratories were worth $53,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Sigma Planning Corp bought a new position in IDEXX Laboratories during the second quarter valued at approximately $250,000. Stephens Investment Management Group LLC boosted its stake in IDEXX Laboratories by 0.8% during the second quarter. Stephens Investment Management Group LLC now owns 272,444 shares of the company’s stock valued at $75,012,000 after buying an additional 2,205 shares during the last quarter. Lyell Wealth Management LP bought a new position in IDEXX Laboratories during the second quarter valued at approximately $4,164,000. Ardevora Asset Management LLP bought a new position in IDEXX Laboratories during the second quarter valued at approximately $34,994,000. Finally, DekaBank Deutsche Girozentrale boosted its stake in IDEXX Laboratories by 20.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 27,427 shares of the company’s stock valued at $7,546,000 after buying an additional 4,564 shares during the last quarter. Hedge funds and other institutional investors own 87.39% of the company’s stock.

A number of equities analysts recently commented on IDXX shares. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target for the company in a research note on Friday, May 3rd. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 26th. Credit Suisse Group raised their price objective on IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research note on Friday. Canaccord Genuity reaffirmed a “buy” rating and issued a $285.00 price objective on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Finally, Stifel Nicolaus raised their price objective on IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Seven research analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and an average target price of $286.67.

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 9,044 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $263.86, for a total transaction of $2,386,349.84. Following the transaction, the director now directly owns 12,116 shares in the company, valued at approximately $3,196,927.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Giovani Twigge sold 2,600 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $250.14, for a total value of $650,364.00. Following the transaction, the insider now owns 12,595 shares in the company, valued at $3,150,513.30. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock valued at $18,968,126 over the last three months. 2.70% of the stock is owned by corporate insiders.

Shares of IDXX stock traded up $1.98 on Friday, reaching $275.05. 167,336 shares of the company’s stock were exchanged, compared to its average volume of 406,263. IDEXX Laboratories, Inc. has a 52 week low of $176.11 and a 52 week high of $292.17. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 4.49. The stock has a market capitalization of $24.18 billion, a PE ratio of 64.56 and a beta of 0.84. The company’s fifty day simple moving average is $279.20 and its 200 day simple moving average is $243.86.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The firm had revenue of $620.10 million during the quarter, compared to analyst estimates of $627.10 million. During the same period last year, the company earned $1.23 EPS. IDEXX Laboratories’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 4.86 earnings per share for the current fiscal year.

About IDEXX Laboratories

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.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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