Azzad Asset Management Inc. ADV Boosts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Azzad Asset Management Inc. ADV boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,703 shares of the company’s stock after buying an additional 307 shares during the period. Azzad Asset Management Inc. ADV’s holdings in IDEXX Laboratories were worth $2,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Valley National Advisers Inc. grew its position in IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares during the last quarter. Riverview Trust Co purchased a new position in IDEXX Laboratories in the 1st quarter valued at $26,000. DSM Capital Partners LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at $33,000. Private Wealth Management Group LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at $34,000. Finally, Venturi Wealth Management LLC grew its position in IDEXX Laboratories by 226.3% in the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 43 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IDXX shares. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Barclays lowered their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $586.63.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $477.49 on Thursday. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The firm’s 50-day simple moving average is $501.19 and its 200 day simple moving average is $525.60. The firm has a market capitalization of $39.44 billion, a PE ratio of 46.22, a P/E/G ratio of 3.89 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.03 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the sale, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.18% 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.