Algert Global LLC Boosts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Algert Global LLC raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,113 shares of the company's stock after purchasing an additional 942 shares during the period. Algert Global LLC's holdings in IDEXX Laboratories were worth $4,181,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of IDXX. United Capital Financial Advisors LLC raised its stake in IDEXX Laboratories by 0.9% during the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock worth $1,011,000 after buying an additional 22 shares during the period. Cranbrook Wealth Management LLC grew its position in shares of IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company's stock valued at $158,000 after purchasing an additional 25 shares during the period. Gabelli Funds LLC increased its stake in IDEXX Laboratories by 5.3% during the 4th quarter. Gabelli Funds LLC now owns 500 shares of the company's stock worth $207,000 after purchasing an additional 25 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in IDEXX Laboratories by 1.8% during the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company's stock worth $632,000 after buying an additional 26 shares during the period. Finally, Summit Trail Advisors LLC raised its holdings in IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock worth $335,000 after buying an additional 26 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IDXX. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Friday. Stifel Nicolaus decreased their target price on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Finally, Barclays boosted their price target 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 investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $524.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded up $1.72 during mid-day trading on Friday, reaching $491.70. The company had a trading volume of 668,502 shares, compared to its average volume of 649,272. The firm has a market cap of $39.85 billion, a price-to-earnings ratio of 46.08, a PEG ratio of 3.41 and a beta of 1.52. The business's 50-day simple moving average is $423.31 and its 200 day simple moving average is $429.36. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

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

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently 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.