West Coast Financial buys $7,354,435 stake in IDEXX Laboratories (IDXX)

IDEXX Laboratories (IDXX) : West Coast Financial scooped up 2,370 additional shares in IDEXX Laboratories during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 84,934 shares of IDEXX Laboratories which is valued at $7,354,435.IDEXX Laboratories makes up approximately 3.05% of West Coast Financial’s portfolio.

IDEXX Laboratories opened for trading at $85.63 and hit $87.19 on the upside on Friday, eventually ending the session at $86.59, with a gain of 0.53% or 0.46 points. The heightened volatility saw the trading volume jump to 7,02,219 shares. Company has a market cap of $7,753 M.

Other Hedge Funds, Including , Quantitative Investment Management boosted its stake in IDXX in the latest quarter, The investment management firm added 12,100 additional shares and now holds a total of 17,600 shares of IDEXX Laboratories which is valued at $1,523,984. IDEXX Laboratories makes up approx 0.07% of Quantitative Investment Management’s portfolio.Ims Capital Management reduced its stake in IDXX by selling 200 shares or 1.87% in the most recent quarter. The Hedge Fund company now holds 10,510 shares of IDXX which is valued at $886,519. IDEXX Laboratories makes up approx 1.07% of Ims Capital Management’s portfolio.Davis R M Inc boosted its stake in IDXX in the latest quarter, The investment management firm added 3,430 additional shares and now holds a total of 286,857 shares of IDEXX Laboratories which is valued at $23,266,971. IDEXX Laboratories makes up approx 1.16% of Davis R M Inc’s portfolio.

On the company’s financial health, IDEXX Laboratories reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 29, 2016. Analyst had a consensus of $0.47. The company had revenue of $418.00 million for the quarter, compared to analysts expectations of $404.20 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS.

Many Wall Street Analysts have commented on IDEXX Laboratories. Company shares were Reiterated by Canaccord Genuity on Apr 19, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .IDEXX Laboratories was Initiated by CL King to “Neutral” on Apr 1, 2016. Company shares were Reiterated by Stifel on Mar 21, 2016 to “Buy”, Firm has raised the Price Target to $ 85 from a previous price target of $80 .

IDEXX Laboratories Inc. develops manufactures and distributes products and provides services primarily for the companion animal veterinary livestock and poultry water testing and dairy markets. The Company sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market. Its segments include Companion Animal Group (CAG) Water Livestock Poultry and Dairy and Other. Its Products and services include point-of-care veterinary diagnostic products; veterinary reference laboratory diagnostic and consulting services; practice management systems and services and digital imaging systems; biological materials testing laboratory animal diagnostic instruments and services; diagnostic health-monitoring and food safety testing products for livestock poultry and dairy; products that test water for microbiological contaminants and point-of-care electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

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