World Equity Group Inc. Acquires Shares of 587 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

World Equity Group Inc. purchased 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 disclosure with the Securities & Exchange Commission. The fund purchased 587 shares of the company's stock, valued at approximately $247,000.

Several other large investors have also added to or reduced their stakes in the company. Hurley Capital LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $30,000. Colonial Trust Co SC raised its position in shares of IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after buying an additional 39 shares during the last quarter. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $38,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock valued at $40,000 after buying an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

IDXX traded up $0.73 during trading hours on Monday, hitting $524.65. The company's stock had a trading volume of 399,768 shares, compared to its average volume of 646,975. The business's 50-day moving average price is $489.21 and its 200-day moving average price is $448.49. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $530.73. The stock has a market cap of $42.19 billion, a price-to-earnings ratio of 48.49, a P/E/G ratio of 3.83 and a beta of 1.55. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The company had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. During the same quarter in the previous year, the business posted $2.71 earnings per share. IDEXX Laboratories's quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction 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 transaction, the director now owns 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IDXX. Stifel Nicolaus lifted their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research report on Monday, May 19th. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Leerink Partners lifted their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley lifted their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $546.00.

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.