WealthTrust Axiom LLC Takes $231,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

WealthTrust Axiom LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 416 shares of the company’s stock, valued at approximately $231,000.

Several other hedge funds and other institutional investors have also made changes to their positions in IDXX. OFI Invest Asset Management purchased a new position in shares of IDEXX Laboratories in the third quarter valued at approximately $25,000. Valley National Advisers Inc. boosted its stake in shares of IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the period. Geo Capital Gestora de Recursos Ltd purchased a new position in shares of IDEXX Laboratories in the third quarter valued at approximately $28,000. Covestor Ltd boosted its stake in shares of IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of IDEXX Laboratories by 108.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock valued at $32,000 after purchasing an additional 38 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. The Goldman Sachs Group lifted their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, Barclays lifted their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $591.50.

Insider Activity

In related news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 in the last ninety days. 2.18% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Down 2.5 %

IDXX stock opened at $492.76 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company’s 50 day moving average is $528.85 and its two-hundred day moving average is $512.64. The stock has a market cap of $40.92 billion, a P/E ratio of 48.93, a PEG ratio of 3.90 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the company earned $2.05 earnings per share. Research analysts expect that IDEXX Laboratories, Inc. will post 11.13 earnings per share for the current fiscal year.

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.