Procyon Advisors LLC Purchases 58 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Procyon Advisors LLC lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,412 shares of the company’s stock after buying an additional 58 shares during the quarter. Procyon Advisors LLC’s holdings in IDEXX Laboratories were worth $784,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management bought a new stake in IDEXX Laboratories in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in IDEXX Laboratories in the third quarter valued at approximately $26,000. Altshuler Shaham Ltd bought a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $26,000. Geo Capital Gestora de Recursos Ltd acquired a new position in IDEXX Laboratories in the third quarter valued at approximately $28,000. Finally, Covestor Ltd lifted its stake in 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 buying an additional 28 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insider Activity at IDEXX Laboratories

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was 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 in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories 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 completion of the transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,524 shares of company stock valued at $24,871,960. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX traded up $0.63 during trading on Thursday, reaching $540.20. 30,803 shares of the company were exchanged, compared to its average volume of 423,959. The company’s 50-day moving average is $547.76 and its two-hundred day moving average is $501.71. The company has a market cap of $44.89 billion, a price-to-earnings ratio of 53.64, a P/E/G ratio of 2.91 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

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

Analyst Ratings Changes

Several brokerages have issued reports on IDXX. Barclays boosted their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. BNP Paribas started coverage on IDEXX Laboratories in a research report on Thursday, December 7th. They issued an “outperform” rating and a $602.00 price target for the company. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Friday, January 5th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories 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.