Kovack Advisors Inc. Invests $1.46 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kovack Advisors Inc. acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 2,625 shares of the company’s stock, valued at approximately $1,457,000.

Other large investors have also bought and sold shares of the company. Valley National Advisers Inc. grew its holdings in IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares during the period. OFI Invest Asset Management acquired a new position in shares of IDEXX Laboratories during the third quarter valued at about $25,000. Venturi Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 226.3% during the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 43 shares during the last quarter. Geo Capital Gestora de Recursos Ltd acquired a new position in shares of IDEXX Laboratories during the third quarter valued at about $28,000. Finally, Covestor Ltd grew 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 valued at $29,000 after buying an additional 28 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on IDXX. Barclays lifted 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. The Goldman Sachs Group lifted their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a report on Tuesday, January 30th. JPMorgan Chase & Co. lifted their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Finally, William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report 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 company. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

Insiders Place Their Bets

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories 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 transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,524 shares of company stock valued at $24,871,960. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX stock traded up $10.06 during mid-day trading on Friday, hitting $499.30. The company had a trading volume of 529,834 shares, compared to its average volume of 416,262. The firm has a market cap of $41.47 billion, a PE ratio of 49.58, a price-to-earnings-growth ratio of 3.77 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock’s fifty day moving average price is $531.02 and its two-hundred day moving average price is $510.75.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

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.