Bridgefront Capital LLC Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bridgefront Capital LLC acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,025 shares of the company’s stock, valued at approximately $424,000.

Several other hedge funds have also recently bought and sold shares of IDXX. Hurley Capital LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at $30,000. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at $31,000. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth $38,000. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock valued at $40,000 after purchasing an additional 81 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Down 0.3 %

Shares of IDXX opened at $473.71 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88. The stock has a market capitalization of $38.39 billion, a P/E ratio of 44.40, a P/E/G ratio of 3.41 and a beta of 1.52. The business’s 50-day moving average price is $420.26 and its 200 day moving average price is $428.49.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The company had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.71 EPS. Analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

IDXX has been the subject of a number of recent analyst reports. Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday. Barclays increased their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a research note on Monday, April 14th. Finally, Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $524.75.

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Company Profile

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.