Diversify Advisory Services LLC Invests $402,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Diversify Advisory Services LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 919 shares of the company's stock, valued at approximately $402,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 3,766.7% in the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock valued at $49,000 after purchasing an additional 113 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of IDEXX Laboratories in the first quarter valued at $229,000. Banque Transatlantique SA purchased a new position in shares of IDEXX Laboratories in the fourth quarter valued at $2,681,000. Wealth Enhancement Advisory Services LLC grew its holdings in IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after acquiring an additional 2,931 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in IDEXX Laboratories by 42.7% during the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after acquiring an additional 654 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $514.61 on Monday. The firm's 50 day moving average is $523.58 and its 200-day moving average is $463.41. The stock has a market capitalization of $41.38 billion, a P/E ratio of 47.56, a P/E/G ratio of 3.74 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $549.52.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.96 EPS 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 during the quarter, compared to analysts' expectations of $998.25 million. During the same period last year, the company posted $2.71 earnings per share. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on IDXX. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Leerink Partners raised their price target on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research report on Thursday. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $560.33.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Company 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.

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