Bourne Lent Asset Management Inc. Grows Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bourne Lent Asset Management Inc. raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 39,517 shares of the company’s stock after purchasing an additional 695 shares during the quarter. IDEXX Laboratories accounts for about 6.2% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Bourne Lent Asset Management Inc.’s holdings in IDEXX Laboratories were worth $16,338,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Sovereign Financial Group Inc. raised its position in IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after buying an additional 23 shares during the period. Mather Group LLC. lifted its position in shares of IDEXX Laboratories by 3.9% in the third quarter. Mather Group LLC. now owns 617 shares of the company’s stock worth $312,000 after purchasing an additional 23 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in shares of IDEXX Laboratories by 2.4% during the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after purchasing an additional 25 shares during the period. Cranbrook Wealth Management LLC grew its position in IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its stake in IDEXX Laboratories by 4.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on IDXX shares. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Finally, Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $523.86.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $427.33 on Wednesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The company’s fifty day moving average price is $423.24 and its 200 day moving average price is $457.45. The company has a market capitalization of $34.99 billion, a PE ratio of 41.21, a price-to-earnings-growth ratio of 3.53 and a beta of 1.36.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.11. The business had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.53 EPS. As a group, analysts expect that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current year.

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.