GAMMA Investing LLC Acquires 916,898 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

GAMMA Investing LLC lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 59,810.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 918,431 shares of the company's stock after acquiring an additional 916,898 shares during the period. IDEXX Laboratories makes up about 0.7% of GAMMA Investing LLC's investment portfolio, making the stock its 23rd largest holding. GAMMA Investing LLC owned about 1.13% of IDEXX Laboratories worth $3,856,950,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the fourth quarter worth $29,000. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories during the fourth quarter worth $30,000. Colonial Trust Co SC boosted its holdings in IDEXX Laboratories by 84.8% during the fourth 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. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories during the fourth quarter worth $38,000. Finally, Itau Unibanco Holding S.A. boosted its holdings in IDEXX Laboratories by 540.0% during the fourth 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. Institutional investors own 87.84% of the company's stock.

Insider Activity

In other news, Director M Anne Szostak sold 1,260 shares of the 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 transaction, the director now directly owns 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.98% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on IDXX. Stifel Nicolaus increased their target price on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a report on Monday, May 19th. Barclays increased their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Morgan Stanley increased their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Piper Sandler increased their price target 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. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $536.00.

IDEXX Laboratories Stock Performance

Shares of IDXX traded down $3.03 during trading hours on Friday, hitting $512.52. The company had a trading volume of 1,221,827 shares, compared to its average volume of 652,599. The firm has a market cap of $41.22 billion, a price-to-earnings ratio of 48.03, a PEG ratio of 3.41 and a beta of 1.52. The business has a fifty day moving average of $449.80 and a 200-day moving average of $437.32. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $530.60. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating the consensus estimate of $2.93 by $0.03. The company had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company's revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.71 earnings per share. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal 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.