GAMMA Investing LLC Invests $263,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

GAMMA Investing LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 510 shares of the company’s stock, valued at approximately $263,000.

Other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. grew its position in shares of IDEXX Laboratories by 84.6% during 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 in the last quarter. OFI Invest Asset Management purchased a new position in IDEXX Laboratories during the 3rd quarter valued at approximately $25,000. Venturi Wealth Management LLC grew its holdings in IDEXX Laboratories by 226.3% during the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 43 shares in the last quarter. Geo Capital Gestora de Recursos Ltd purchased a new position in IDEXX Laboratories during the 3rd quarter valued at approximately $28,000. Finally, Covestor Ltd grew its holdings in IDEXX Laboratories by 71.8% during the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the subject of several analyst reports. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays raised their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. The Goldman Sachs Group raised their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Finally, Piper Sandler lowered 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Trading Down 1.0 %

Shares of NASDAQ:IDXX opened at $489.24 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The business’s fifty day simple moving average is $532.15 and its 200-day simple moving average is $510.35. The company has a market capitalization of $40.63 billion, a PE ratio of 48.58, a P/E/G ratio of 3.81 and a beta of 1.26. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

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

Insider Buying and Selling

In related news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s 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 sale, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. 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 ninety days. 2.11% of the stock is owned by insiders.

About IDEXX Laboratories

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.