Sheets Smith Wealth Management Makes New $244,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sheets Smith Wealth Management bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 580 shares of the company's stock, valued at approximately $244,000.

Several other large investors have also recently modified their holdings of IDXX. United Capital Financial Advisors LLC increased its holdings 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 purchasing an additional 22 shares during the period. Gabelli Funds LLC increased its holdings 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 during the period. Bigelow Investment Advisors LLC increased its holdings in IDEXX Laboratories by 1.9% during the 1st quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock worth $596,000 after purchasing an additional 27 shares during the period. Forum Financial Management LP increased its holdings in IDEXX Laboratories by 4.9% during the 4th quarter. Forum Financial Management LP now owns 621 shares of the company's stock worth $257,000 after purchasing an additional 29 shares during the period. Finally, Grimes & Company Inc. increased its holdings in IDEXX Laboratories by 0.6% during the 1st quarter. Grimes & Company Inc. now owns 4,502 shares of the company's stock worth $1,890,000 after purchasing an additional 29 shares during the period. Institutional investors own 87.84% of the company's stock.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,046 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total transaction of $537,372.04. Following the sale, the director now directly owns 262 shares of the company's stock, valued at $134,599.88. The trade was a 79.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Up 1.0%

IDEXX Laboratories stock traded up $5.53 during midday trading on Friday, hitting $533.31. The stock had a trading volume of 132,901 shares, compared to its average volume of 643,529. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The stock has a market cap of $42.89 billion, a P/E ratio of 49.30, a P/E/G ratio of 3.87 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $538.89. The business has a fifty day moving average price of $496.62 and a 200 day moving average price of $450.16.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The business's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.71 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IDXX shares. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley increased their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Leerink Partners increased their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday, June 11th. Finally, Stifel Nicolaus increased their price objective on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a report on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $546.00.

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.