Procyon Advisors LLC Acquires 58 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Procyon Advisors LLC boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,412 shares of the company’s stock after purchasing an additional 58 shares during the period. Procyon Advisors LLC’s holdings in IDEXX Laboratories were worth $784,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its holdings in IDEXX Laboratories by 121,647.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after purchasing an additional 7,441,162 shares during the last quarter. Norges Bank acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $336,416,000. Morgan Stanley grew its stake in shares of IDEXX Laboratories by 36.0% in the fourth quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after acquiring an additional 260,926 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of IDEXX Laboratories by 6.4% in the second quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock worth $1,804,428,000 after acquiring an additional 214,529 shares during the last quarter. Finally, Winslow Capital Management LLC grew its stake in shares of IDEXX Laboratories by 24.9% in the third quarter. Winslow Capital Management LLC now owns 689,873 shares of the company’s stock worth $301,661,000 after acquiring an additional 137,621 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. BNP Paribas began coverage on IDEXX Laboratories in a report on Thursday, December 7th. They set an “outperform” rating and a $602.00 price objective for the company. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Friday, January 5th. The Goldman Sachs Group lifted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, JPMorgan Chase & Co. lifted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $591.50.

Insider Transactions at IDEXX Laboratories

In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction 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 directly owns 6,712 shares in the company, valued at $3,851,815.44. 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 2.11% of the company’s stock.

IDEXX Laboratories Stock Up 0.1 %

Shares of IDXX traded up $0.63 on Thursday, hitting $540.20. The company’s stock had a trading volume of 30,803 shares, compared to its average volume of 423,959. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42. The firm’s fifty day moving average price is $547.76 and its 200-day moving average price is $501.71. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The firm has a market capitalization of $44.89 billion, a price-to-earnings ratio of 53.58, a P/E/G ratio of 2.91 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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. The business had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. IDEXX Laboratories’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 11.15 EPS for the current 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.