M&T Bank Corp Has $2.88 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

M&T Bank Corp lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,693 shares of the company’s stock after purchasing an additional 92 shares during the quarter. M&T Bank Corp’s holdings in IDEXX Laboratories were worth $2,876,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of IDEXX Laboratories by 91.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,975 shares of the company’s stock worth $4,860,000 after acquiring an additional 4,772 shares in the last quarter. Great Valley Advisor Group Inc. bought a new stake in IDEXX Laboratories in the second quarter worth approximately $238,000. Blue Trust Inc. lifted its stake in IDEXX Laboratories by 136.2% in the second quarter. Blue Trust Inc. now owns 744 shares of the company’s stock valued at $402,000 after buying an additional 429 shares during the period. Raymond James & Associates boosted its holdings in shares of IDEXX Laboratories by 6.8% during the 2nd quarter. Raymond James & Associates now owns 79,406 shares of the company’s stock worth $38,687,000 after buying an additional 5,072 shares in the last quarter. Finally, Marshall Financial Group LLC grew its position in shares of IDEXX Laboratories by 7.9% during the 2nd quarter. Marshall Financial Group LLC now owns 1,854 shares of the company’s stock worth $903,000 after buying an additional 135 shares during the period. Institutional investors own 87.84% of the company’s stock.

Insider Activity at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.11% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

IDXX has been the topic of several research analyst reports. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. JPMorgan Chase & Co. cut their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Barclays reduced their price objective on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Finally, Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $539.63.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $432.10 on Friday. The firm has a market capitalization of $35.38 billion, a P/E ratio of 41.67, a price-to-earnings-growth ratio of 3.99 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The business’s fifty day simple moving average is $439.55 and its 200 day simple moving average is $471.81. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.53 EPS. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

IDEXX Laboratories 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.