HCR Wealth Advisors Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HCR Wealth Advisors purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 362 shares of the company’s stock, valued at approximately $201,000.

Several other institutional investors have also recently made changes to their positions in IDXX. Private Advisor Group LLC raised its stake in IDEXX Laboratories by 7.0% during the 3rd quarter. Private Advisor Group LLC now owns 1,928 shares of the company’s stock worth $843,000 after buying an additional 126 shares during the period. Signaturefd LLC raised its position in shares of IDEXX Laboratories by 5.3% during the third quarter. Signaturefd LLC now owns 1,198 shares of the company’s stock worth $524,000 after purchasing an additional 60 shares during the period. NBC Securities Inc. bought a new position in shares of IDEXX Laboratories in the 3rd quarter worth $241,000. Victory Capital Management Inc. grew its position in IDEXX Laboratories by 3.2% in the 3rd quarter. Victory Capital Management Inc. now owns 153,612 shares of the company’s stock valued at $67,170,000 after purchasing an additional 4,716 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in IDEXX Laboratories by 46.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 34,762 shares of the company’s stock valued at $15,200,000 after purchasing an additional 11,104 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded up $0.40 during mid-day trading on Friday, reaching $516.50. 267,200 shares of the company’s stock were exchanged, compared to its average volume of 546,767. The business’s fifty day simple moving average is $509.96 and its 200 day simple moving average is $523.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The firm has a market capitalization of $42.66 billion, a PE ratio of 50.00, a P/E/G ratio of 4.21 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The firm had revenue of $964.10 million during the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barclays lowered their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley dropped their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. JPMorgan Chase & Co. increased their price objective 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 cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price on the stock. in a research report on Tuesday, January 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $580.38.

Insiders Place Their Bets

In other news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.11% 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.