Waverly Advisors LLC Purchases 112 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Waverly Advisors LLC grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 660 shares of the company’s stock after buying an additional 112 shares during the period. Waverly Advisors LLC’s holdings in IDEXX Laboratories were worth $273,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in IDXX. Exchange Traded Concepts LLC raised its position in IDEXX Laboratories by 11.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,799 shares of the company’s stock worth $744,000 after purchasing an additional 187 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of IDEXX Laboratories by 44.5% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 610 shares of the company’s stock valued at $252,000 after purchasing an additional 188 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of IDEXX Laboratories by 182.8% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 164 shares of the company’s stock valued at $68,000 after purchasing an additional 106 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in IDEXX Laboratories during the 4th quarter worth $1,544,000. Finally, Berkshire Bank grew its holdings in IDEXX Laboratories by 5.4% during the 4th quarter. Berkshire Bank now owns 1,553 shares of the company’s stock worth $642,000 after acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director now owns 1,801 shares of the company’s stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $501.57 on Tuesday. The firm has a 50-day moving average price of $442.28 and a two-hundred day moving average price of $435.02. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.60. The company has a market capitalization of $40.34 billion, a P/E ratio of 47.01, a P/E/G ratio of 3.41 and a beta of 1.52. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter in the prior year, the business posted $2.71 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have commented on IDXX. Wall Street Zen raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, May 22nd. Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research report on Monday, May 5th. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $536.00.

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.