Connecticut Wealth Management LLC Buys 23 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Connecticut Wealth Management LLC lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 620 shares of the company’s stock after acquiring an additional 23 shares during the period. Connecticut Wealth Management LLC’s holdings in IDEXX Laboratories were worth $344,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Blair William & Co. IL grew its position in IDEXX Laboratories by 0.7% in the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after purchasing an additional 7,812 shares in the last quarter. Morgan Stanley grew its position in IDEXX Laboratories by 4.7% in the third quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after purchasing an additional 48,095 shares in the last quarter. Northern Trust Corp grew its position in IDEXX Laboratories by 7.7% in the third quarter. Northern Trust Corp now owns 919,191 shares of the company’s stock valued at $401,935,000 after purchasing an additional 65,891 shares in the last quarter. Principal Financial Group Inc. grew its position in IDEXX Laboratories by 1.4% in the third quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock valued at $356,753,000 after purchasing an additional 11,315 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in IDEXX Laboratories by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock valued at $350,373,000 after purchasing an additional 65,760 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday. Piper Sandler cut 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. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. The Goldman Sachs Group increased their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Barclays cut their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $580.88.

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the company’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 transaction, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly 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. Over the last 90 days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.18% of the stock is currently owned by insiders.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded down $4.44 during trading hours on Monday, reaching $476.16. The company’s stock had a trading volume of 126,062 shares, compared to its average volume of 440,871. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The firm’s 50 day simple moving average is $523.29 and its 200-day simple moving average is $513.58. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $39.33 billion, a price-to-earnings ratio of 46.52, a PEG ratio of 3.78 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data 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 business had revenue of $901.60 million for the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. IDEXX Laboratories’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current year.

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.