Riverview Trust Co Acquires New Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Riverview Trust Co acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 48 shares of the company’s stock, valued at approximately $26,000.

Several other hedge funds have also recently added to or reduced their stakes in IDXX. Franklin Resources Inc. increased its stake in shares of IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock worth $780,303,000 after acquiring an additional 28,475 shares during the last quarter. Morgan Stanley increased its stake in shares of IDEXX Laboratories by 4.7% in the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock worth $465,482,000 after acquiring an additional 48,095 shares during the last quarter. Capital World Investors increased its stake in shares of IDEXX Laboratories by 1.1% in the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after acquiring an additional 11,351 shares during the last quarter. Norges Bank acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth $512,190,000. Finally, JPMorgan Chase & Co. increased its stake in shares of IDEXX Laboratories by 8.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock worth $350,373,000 after acquiring an additional 65,760 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $488.61 on Thursday. The business has a 50-day moving average of $500.84 and a 200 day moving average of $527.78. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock has a market capitalization of $40.35 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 4.01 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday. Morgan Stanley cut their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Finally, Barclays cut their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $586.63.

Insider Activity

In other 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 transaction, the director now owns 161 shares in the company, valued at approximately $87,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.11% 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.