Insight Wealth Strategies LLC Increases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Insight Wealth Strategies LLC boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 230.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,096 shares of the company’s stock after purchasing an additional 7,041 shares during the quarter. Insight Wealth Strategies LLC’s holdings in IDEXX Laboratories were worth $4,174,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Nordea Investment Management AB grew its stake in shares of IDEXX Laboratories by 5.5% in the 4th quarter. Nordea Investment Management AB now owns 6,409 shares of the company’s stock valued at $2,658,000 after purchasing an additional 334 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of IDEXX Laboratories by 3.3% during the fourth quarter. GAMMA Investing LLC now owns 1,533 shares of the company’s stock worth $634,000 after purchasing an additional 49 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of IDEXX Laboratories during the third quarter worth $1,128,000. American Trust purchased a new position in IDEXX Laboratories in the 3rd quarter valued at $757,000. Finally, Franklin Resources Inc. increased its stake in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after buying an additional 34,305 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock traded up $13.06 during trading hours on Monday, hitting $428.59. The stock had a trading volume of 343,232 shares, compared to its average volume of 350,921. The stock has a market capitalization of $35.10 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 3.94 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The stock’s fifty day moving average is $424.43 and its two-hundred day moving average is $462.26.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.11. The company had revenue of $975.50 million during the quarter, compared to analysts’ expectations of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.53 earnings per share. As a group, analysts predict that IDEXX Laboratories, Inc. will post 10.44 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the topic of several analyst reports. Barclays lowered their target price on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Stifel Nicolaus decreased their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a report on Monday, November 4th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $539.63.

IDEXX Laboratories 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.