IDEXX Laboratories, Inc. (NASDAQ:IDXX) Short Interest Up 7.1% in December

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of a large increase in short interest during the month of December. As of December 31st, there was short interest totalling 1,500,000 shares, an increase of 7.1% from the December 15th total of 1,400,000 shares. Based on an average daily volume of 645,100 shares, the days-to-cover ratio is presently 2.3 days. Approximately 1.9% of the shares of the stock are short sold.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $419.26 on Monday. The firm’s 50 day moving average price is $423.60 and its two-hundred day moving average price is $458.00. 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. IDEXX Laboratories has a 52-week low of $398.50 and a 52-week high of $583.39. 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) last released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.11. The firm had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The company’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.53 earnings per share. As a group, analysts forecast that IDEXX Laboratories will post 10.44 EPS for the current year.

Analyst Ratings Changes

IDXX has been the topic of several research analyst reports. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Barclays decreased their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. dropped their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.86.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.11% of the stock is owned by insiders.

Institutional Investors Weigh In On IDEXX Laboratories

Large investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC bought a new position in IDEXX Laboratories in the fourth quarter valued at approximately $16,562,000. SG Americas Securities LLC lifted its position in shares of IDEXX Laboratories by 4.3% in the fourth quarter. SG Americas Securities LLC now owns 40,082 shares of the company’s stock worth $16,572,000 after purchasing an additional 1,659 shares in the last quarter. Dakota Wealth Management boosted its holdings in IDEXX Laboratories by 25.2% during the fourth quarter. Dakota Wealth Management now owns 1,706 shares of the company’s stock worth $705,000 after purchasing an additional 343 shares during the last quarter. Bourne Lent Asset Management Inc. grew its position in IDEXX Laboratories by 1.8% in the fourth quarter. Bourne Lent Asset Management Inc. now owns 39,517 shares of the company’s stock valued at $16,338,000 after purchasing an additional 695 shares in the last quarter. Finally, Perfromance Wealth Partners LLC increased its stake in IDEXX Laboratories by 2.8% in the 4th quarter. Perfromance Wealth Partners LLC now owns 3,626 shares of the company’s stock valued at $1,499,000 after buying an additional 100 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

About IDEXX Laboratories

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.