PNC Financial Services Group Inc. Has $22.20 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

PNC Financial Services Group Inc. raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,988 shares of the company’s stock after buying an additional 721 shares during the period. PNC Financial Services Group Inc.’s holdings in IDEXX Laboratories were worth $22,195,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Patron Partners LLC lifted its holdings in IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after buying an additional 20 shares during the period. NewEdge Wealth LLC lifted its holdings in IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after buying an additional 20 shares during the period. Manchester Capital Management LLC lifted its holdings in IDEXX Laboratories by 11.9% in the fourth quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock valued at $104,000 after buying an additional 20 shares during the period. Phoenix Holdings Ltd. lifted its holdings in IDEXX Laboratories by 2.8% in the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after buying an additional 21 shares during the period. Finally, BluePath Capital Management LLC increased its stake in IDEXX Laboratories by 1.8% in the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after purchasing an additional 21 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Bruce L. Claflin sold 200 shares of the 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 completion of the sale, the director now owns 161 shares in the company, valued at $87,068.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.18% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Trading Up 0.1 %

IDXX opened at $504.33 on Tuesday. The company’s 50 day moving average price is $501.32 and its two-hundred day moving average price is $528.58. The firm has a market capitalization of $41.65 billion, a price-to-earnings ratio of 48.82, a PEG ratio of 4.11 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, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. The company 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%. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current year.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent analyst reports. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Barclays lowered their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company 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, Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $580.38.

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.