Waverly Advisors LLC Increases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Waverly Advisors LLC boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 660 shares of the company’s stock after buying an additional 112 shares during the quarter. Waverly Advisors LLC’s holdings in IDEXX Laboratories were worth $273,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hurley Capital LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $29,000. Rialto Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $30,000. Colonial Trust Co SC increased its holdings in IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after acquiring an additional 39 shares during the period. Kestra Investment Management LLC bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $38,000. Finally, Itau Unibanco Holding S.A. increased its holdings in IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock worth $40,000 after acquiring an additional 81 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 0.6%

Shares of IDEXX Laboratories stock opened at $501.57 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market capitalization of $40.34 billion, a PE ratio of 47.01, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $530.60. The company has a 50-day simple moving average of $442.28 and a two-hundred day simple moving average of $435.02.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping analysts’ consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The firm had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the business posted $2.71 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on IDXX shares. Wall Street Zen upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd. Piper Sandler increased their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a report on Monday, May 19th. Bank of America raised their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Barclays raised their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.00.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the business’s stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director now directly owns 1,801 shares in the company, valued at approximately $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.98% of the company’s stock.

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.