Baker Tilly Wealth Management LLC Takes $242,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Baker Tilly Wealth Management LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 576 shares of the company's stock, valued at approximately $242,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. DAVENPORT & Co LLC boosted its position in shares of IDEXX Laboratories by 30.5% during the 4th quarter. DAVENPORT & Co LLC now owns 5,653 shares of the company's stock worth $2,337,000 after acquiring an additional 1,321 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in IDEXX Laboratories by 13.6% during the fourth quarter. E. Ohman J or Asset Management AB now owns 3,750 shares of the company's stock worth $1,550,000 after purchasing an additional 450 shares during the last quarter. Ninety One UK Ltd boosted its holdings in IDEXX Laboratories by 42.1% in the fourth quarter. Ninety One UK Ltd now owns 71,032 shares of the company's stock valued at $29,367,000 after purchasing an additional 21,041 shares in the last quarter. Ninety One SA PTY Ltd increased its stake in IDEXX Laboratories by 8.3% in the fourth quarter. Ninety One SA PTY Ltd now owns 4,457 shares of the company's stock valued at $1,843,000 after purchasing an additional 341 shares during the last quarter. Finally, Paragon Capital Management Inc. raised its holdings in IDEXX Laboratories by 25.7% during the fourth quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock worth $1,579,000 after purchasing an additional 782 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

IDXX traded down $0.97 on Wednesday, hitting $524.86. 503,327 shares of the company traded hands, compared to its average volume of 651,941. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $531.50. The company has a 50 day moving average of $453.81 and a 200-day moving average of $438.68. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $42.21 billion, a PE ratio of 49.19, a PEG ratio of 3.41 and a beta of 1.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter in the previous year, the company posted $2.71 earnings per share. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analysts Set New Price Targets

IDXX has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus lifted their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Four investment 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 stock has an average rating of "Moderate Buy" and an average price target of $536.00.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the sale, the director now owns 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.98% of the stock is currently owned by corporate 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.