Marks Group Wealth Management Inc Has $4.95 Million Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Marks Group Wealth Management Inc raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,912 shares of the company’s stock after purchasing an additional 157 shares during the quarter. Marks Group Wealth Management Inc’s holdings in IDEXX Laboratories were worth $4,947,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of IDXX. OFI Invest Asset Management bought a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at approximately $25,000. Valley National Advisers Inc. boosted its position in IDEXX Laboratories by 84.6% in the fourth 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. Geo Capital Gestora de Recursos Ltd bought a new stake in shares of IDEXX Laboratories during the third quarter worth $28,000. Covestor Ltd increased its holdings in shares of IDEXX Laboratories by 71.8% during the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of 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 buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 3.0 %

Shares of NASDAQ IDXX opened at $493.80 on Wednesday. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The company’s 50 day moving average price is $535.07 and its 200-day moving average price is $510.61. The company has a market capitalization of $41.01 billion, a P/E ratio of 49.04, a price-to-earnings-growth ratio of 3.69 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results 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. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. During the same quarter in the previous year, the business earned $2.05 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 8.8% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other 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 owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 in the last 90 days. Corporate insiders own 2.18% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of research reports. The Goldman Sachs Group boosted their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays raised their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

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.