Lord Abbett & CO. LLC Buys 148,257 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)


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Lord Abbett & CO. LLC increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 77.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 339,183 shares of the company’s stock after acquiring an additional 148,257 shares during the period. Lord Abbett & CO. LLC owned about 0.40% of IDEXX Laboratories worth $169,547,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in IDEXX Laboratories by 1.7% in the fourth quarter. BlackRock Inc. now owns 7,889,592 shares of the company’s stock valued at $3,943,772,000 after buying an additional 129,494 shares during the period. Alliancebernstein L.P. raised its stake in IDEXX Laboratories by 2.5% in the fourth quarter. Alliancebernstein L.P. now owns 1,387,981 shares of the company’s stock valued at $693,810,000 after buying an additional 34,000 shares during the period. Nuveen Asset Management LLC raised its stake in IDEXX Laboratories by 2.9% in the third quarter. Nuveen Asset Management LLC now owns 618,797 shares of the company’s stock valued at $243,255,000 after buying an additional 17,305 shares during the period. WCM Investment Management LLC raised its stake in IDEXX Laboratories by 9.1% in the third quarter. WCM Investment Management LLC now owns 546,274 shares of the company’s stock valued at $214,746,000 after buying an additional 45,580 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in IDEXX Laboratories by 9.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 429,365 shares of the company’s stock valued at $168,788,000 after buying an additional 37,161 shares during the period. Hedge funds and other institutional investors own 85.06% of the company’s stock.

Several research firms have issued reports on IDXX. JPMorgan Chase & Co. began coverage on IDEXX Laboratories in a research note on Friday, January 29th. They issued an “overweight” rating and a $570.00 price objective on the stock. Barclays started coverage on IDEXX Laboratories in a research note on Wednesday, February 17th. They set an “overweight” rating and a $600.00 target price on the stock. Five analysts have rated the stock with a buy rating, The stock currently has a consensus rating of “Buy” and a consensus target price of $471.40.

In related news, Director Jonathan W. Ayers sold 1,000 shares of the stock in a transaction that occurred on Thursday, February 18th. The stock was sold at an average price of $555.56, for a total transaction of $555,560.00. Following the sale, the director now owns 652,737 shares of the company’s stock, valued at $362,634,567.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brian P. Mckeon sold 1,307 shares of the stock in a transaction that occurred on Tuesday, February 16th. The stock was sold at an average price of $539.58, for a total value of $705,231.06. The disclosure for this sale can be found here. Insiders have sold 43,898 shares of company stock worth $22,009,501 in the last three months. 2.53% of the stock is currently owned by company insiders.

Shares of NASDAQ IDXX traded down $13.32 during trading hours on Tuesday, reaching $523.59. 1,417 shares of the stock were exchanged, compared to its average volume of 465,654. The firm has a market capitalization of $44.73 billion, a price-to-earnings ratio of 93.54, a P/E/G ratio of 4.55 and a beta of 0.88. The company has a debt-to-equity ratio of 1.93, a quick ratio of 1.24 and a current ratio of 1.65. IDEXX Laboratories, Inc. has a 52 week low of $168.65 and a 52 week high of $573.99. The stock’s fifty day simple moving average is $504.77 and its 200 day simple moving average is $443.23.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, February 2nd. The company reported $2.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.62. The company had revenue of $720.90 million for the quarter, compared to analyst estimates of $680.03 million. IDEXX Laboratories had a return on equity of 198.91% and a net margin of 19.20%. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.04 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 6.13 EPS for the current fiscal year.

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.

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

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