Wealth Alliance Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wealth Alliance bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 421 shares of the company’s stock, valued at approximately $234,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. OFI Invest Asset Management bought a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $25,000. Valley National Advisers Inc. boosted its holdings in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $26,000. Geo Capital Gestora de Recursos Ltd bought a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at about $28,000. Finally, Covestor Ltd boosted its holdings in shares of IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 28 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

IDXX opened at $476.35 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $39.56 billion, a PE ratio of 47.30, a P/E/G ratio of 3.68 and a beta of 1.26. The firm has a 50 day moving average of $538.02 and a two-hundred day moving average of $508.81.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same period last year, the firm posted $2.05 EPS. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on IDXX shares. Barclays raised their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a report on Tuesday, January 30th. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. The Goldman Sachs Group increased their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $591.50.

Insiders Place Their Bets

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is owned by insiders.

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.