IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 123.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 508 shares of the company’s stock after purchasing an additional 281 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in IDEXX Laboratories were worth $255,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IDXX. Avalon Trust Co purchased a new position in IDEXX Laboratories during the first quarter valued at approximately $25,000. Arlington Partners LLC increased its holdings in shares of IDEXX Laboratories by 233.3% during the 2nd quarter. Arlington Partners LLC now owns 50 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Altshuler Shaham Ltd acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $26,000. Resurgent Financial Advisors LLC purchased a new stake in IDEXX Laboratories during the fourth quarter worth $31,000. Finally, Raleigh Capital Management Inc. acquired a new stake in IDEXX Laboratories during the first quarter valued at $33,000. Hedge funds and other institutional investors own 86.85% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX opened at $472.93 on Tuesday. The firm has a market capitalization of $39.28 billion, a PE ratio of 48.26, a PEG ratio of 2.60 and a beta of 1.21. The company has a current ratio of 1.43, a quick ratio of 1.02 and a debt-to-equity ratio of 0.48. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $564.73. The firm’s 50-day moving average price is $434.66 and its 200 day moving average price is $475.04.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $2.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.16. IDEXX Laboratories had a return on equity of 85.68% and a net margin of 22.93%. The business had revenue of $915.53 million during the quarter, compared to analyst estimates of $926.88 million. During the same period in the prior year, the business earned $2.15 earnings per share. The business’s revenue was up 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 9.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on IDXX shares. Barclays increased their target price on shares of IDEXX Laboratories from $590.00 to $592.00 and gave the stock an “overweight” rating in a research note on Thursday, November 2nd. Atlantic Securities lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 price target for the company. in a report on Wednesday, August 2nd. JPMorgan Chase & Co. decreased their price objective on shares of IDEXX Laboratories from $600.00 to $550.00 and set an “overweight” rating on the stock in a report on Thursday, November 2nd. Stifel Nicolaus cut their target price on shares of IDEXX Laboratories from $500.00 to $460.00 and set a “hold” rating for the company in a research note on Monday, October 30th. Finally, The Goldman Sachs Group decreased their price target on shares of IDEXX Laboratories from $578.00 to $500.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $548.14.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP James F. Polewaczyk sold 22,909 shares of IDEXX Laboratories stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total transaction of $11,696,419.04. Following the transaction, the executive vice president now owns 10,038 shares in the company, valued at approximately $5,125,001.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $512.01, for a total value of $6,873,222.24. Following the completion of the transaction, the chief executive officer now directly owns 72,925 shares in the company, valued at $37,338,329.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP James F. Polewaczyk sold 22,909 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $510.56, for a total value of $11,696,419.04. Following the completion of the transaction, the executive vice president now directly owns 10,038 shares in the company, valued at approximately $5,125,001.28. The disclosure for this sale can be found here. 2.11% of the stock is owned by company 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 worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.