Meyer Handelman Co. Invests $2.16 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Meyer Handelman Co. bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,991 shares of the company’s stock, valued at approximately $2,155,000.

Other large investors also recently bought and sold shares of the company. Valley National Advisers Inc. lifted its stake in IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 22 shares during the period. DSM Capital Partners LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth $33,000. Private Wealth Management Group LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $34,000. Venturi Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares during the period. Finally, Geo Capital Gestora de Recursos Ltd purchased a new position in IDEXX Laboratories during the third quarter worth about $28,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 0.0 %

NASDAQ:IDXX opened at $495.73 on Friday. The stock has a fifty day simple moving average of $500.80 and a 200-day simple moving average of $528.24. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a market capitalization of $40.94 billion, a PE ratio of 47.99, a price-to-earnings-growth ratio of 4.05 and a beta of 1.33. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million during the quarter, compared to the consensus estimate of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the sale, the director now owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.11% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Barclays lowered their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Finally, William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $580.38.

IDEXX Laboratories Company 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.