Diversify Wealth Management LLC Acquires New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Diversify Wealth Management LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,186 shares of the company's stock, valued at approximately $518,000.

Other hedge funds also recently modified their holdings of the company. MorganRosel Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter worth about $26,000. Hurley Capital LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $29,000. Colonial Trust Co SC boosted its stake in shares of IDEXX Laboratories by 84.8% during the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after purchasing an additional 39 shares during the last quarter. Itau Unibanco Holding S.A. boosted its stake in shares of IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after purchasing an additional 81 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its stake in shares of IDEXX Laboratories by 108.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock worth $44,000 after purchasing an additional 54 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 transaction, the director owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.98% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on IDXX. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective on the stock. Leerink Partners increased their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Morgan Stanley increased 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. Finally, Stifel Nicolaus increased their price objective on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a report on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $558.11.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $533.37 on Monday. The company's fifty day simple moving average is $519.68 and its 200-day simple moving average is $459.58. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $549.52. 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 company has a market cap of $42.89 billion, a PE ratio of 49.29, a P/E/G ratio of 3.89 and a beta of 1.54.

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

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.

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