Cabot Wealth Management Inc. Purchases 259 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cabot Wealth Management Inc. lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.6% during the 1st quarter, Holdings Channel reports. The firm owned 5,874 shares of the company’s stock after buying an additional 259 shares during the quarter. Cabot Wealth Management Inc.’s holdings in IDEXX Laboratories were worth $2,467,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IDXX. Allworth Financial LP grew its holdings in IDEXX Laboratories by 61.2% during the 4th quarter. Allworth Financial LP now owns 1,507 shares of the company’s stock worth $649,000 after acquiring an additional 572 shares during the last quarter. Truist Financial Corp grew its holdings in IDEXX Laboratories by 13.9% during the 4th quarter. Truist Financial Corp now owns 27,784 shares of the company’s stock worth $11,487,000 after acquiring an additional 3,382 shares during the last quarter. D.A. Davidson & CO. grew its holdings in IDEXX Laboratories by 2.8% during the 4th quarter. D.A. Davidson & CO. now owns 1,674 shares of the company’s stock worth $692,000 after acquiring an additional 45 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in IDEXX Laboratories by 465.3% during the 4th quarter. Venturi Wealth Management LLC now owns 571 shares of the company’s stock worth $236,000 after acquiring an additional 470 shares during the last quarter. Finally, Kestra Investment Management LLC bought a new stake in IDEXX Laboratories during the 4th quarter worth about $38,000. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on IDXX. Wall Street Zen lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 30th. Leerink Partners increased their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, June 11th. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday, May 5th. Finally, Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a “hold” rating in a research note on Monday, May 19th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $546.00.

IDEXX Laboratories Stock Up 0.8%

Shares of NASDAQ IDXX opened at $523.92 on Friday. The firm has a market capitalization of $42.13 billion, a PE ratio of 48.42, a price-to-earnings-growth ratio of 3.80 and a beta of 1.55. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73. The firm’s 50-day moving average is $486.81 and its 200-day moving average is $447.64.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.71 EPS. Equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity

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 sale, the director now directly owns 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.98% of the company’s stock.

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.