Fiduciary Group LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Fiduciary Group LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 387 shares of the company’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in IDEXX Laboratories during the 3rd quarter worth $25,000. Valley National Advisers Inc. raised its stake 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 purchasing an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd acquired a new stake in IDEXX Laboratories during the third quarter worth about $28,000. Covestor Ltd raised its stake in IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 28 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in IDEXX Laboratories by 108.6% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after acquiring an additional 38 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related 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 sale, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.18% of the company’s stock.

IDEXX Laboratories Trading Up 1.2 %

IDEXX Laboratories stock opened at $505.34 on Tuesday. The firm has a 50 day simple moving average of $530.02 and a 200-day simple moving average of $512.17. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The stock has a market capitalization of $41.97 billion, a PE ratio of 50.18, a price-to-earnings-growth ratio of 3.85 and a beta of 1.26. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million during 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 business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $2.05 earnings per share. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.14 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IDXX shares. The Goldman Sachs Group increased their price objective 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. 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 research note on Tuesday, February 6th. 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 research note on Tuesday, February 6th. Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research note on Tuesday, January 30th. Finally, William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $591.50.

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.