IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,220,000 shares, a growth of 7.0% from the September 30th total of 1,140,000 shares. Currently, 1.5% of the company’s shares are sold short. Based on an average daily volume of 401,800 shares, the short-interest ratio is currently 3.0 days.

IDEXX Laboratories stock traded up $2.42 during mid-day trading on Friday, reaching $259.78. The stock had a trading volume of 637,200 shares, compared to its average volume of 485,354. The firm has a market capitalization of $22.24 billion, a PE ratio of 60.98 and a beta of 0.79. The company has a debt-to-equity ratio of 3.76, a quick ratio of 0.80 and a current ratio of 1.12. IDEXX Laboratories has a fifty-two week low of $176.11 and a fifty-two week high of $294.57. The stock’s 50-day simple moving average is $271.70 and its 200-day simple moving average is $269.81.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.10. The company had revenue of $605.30 million for the quarter, compared to analysts’ expectations of $597.09 million. IDEXX Laboratories had a return on equity of 405.71% and a net margin of 17.99%. IDEXX Laboratories’s revenue for the quarter was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. On average, research analysts forecast that IDEXX Laboratories will post 4.76 earnings per share for the current fiscal year.

In related news, insider Jonathan W. Ayers sold 36,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $254.05, for a total transaction of $9,145,800.00. Following the completion of the sale, the insider now owns 947,317 shares of the company’s stock, valued at $240,665,883.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Anne Szostak sold 3,283 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $279.37, for a total value of $917,171.71. Following the sale, the director now directly owns 584 shares of the company’s stock, valued at approximately $163,152.08. The disclosure for this sale can be found here. Insiders have sold 101,380 shares of company stock valued at $27,423,430 in the last ninety days. 2.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in IDXX. Altshuler Shaham Ltd purchased a new position in IDEXX Laboratories in the 2nd quarter worth approximately $28,000. Lenox Wealth Management Inc. purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $31,000. Usca Ria LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $36,000. Cornerstone Advisors Inc. increased its stake in IDEXX Laboratories by 100.0% in the 2nd quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock worth $39,000 after purchasing an additional 70 shares during the period. Finally, Captrust Financial Advisors increased its stake in IDEXX Laboratories by 32.5% in the 2nd quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock worth $42,000 after purchasing an additional 37 shares during the period. 87.51% of the stock is currently owned by institutional investors.

IDXX has been the subject of a number of research reports. Credit Suisse Group raised their price objective on IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. ValuEngine cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Guggenheim set a $310.00 price objective on IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research cut IDEXX Laboratories from a “hold” rating to a “sell” rating and set a $267.00 price objective for the company. in a research note on Monday, November 11th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $285.00 price objective on shares of IDEXX Laboratories in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $289.57.

About IDEXX Laboratories

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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