Gateway Investment Advisers LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,296 shares of the company's stock after acquiring an additional 947 shares during the quarter. Gateway Investment Advisers LLC's holdings in IDEXX Laboratories were worth $5,584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of the business. Hurley Capital LLC purchased a new position in IDEXX Laboratories in the fourth quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $30,000. Colonial Trust Co SC boosted its holdings in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock valued at $35,000 after purchasing an additional 39 shares during the last quarter. Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth about $38,000. Finally, Itau Unibanco Holding S.A. grew 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 period. Hedge funds and other institutional investors own 87.84% of the company's stock.
Insiders Place Their Bets
In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director now owns 1,801 shares in the company, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by insiders.
IDEXX Laboratories Price Performance
Shares of NASDAQ:IDXX traded down $6.31 on Monday, reaching $518.60. 328,103 shares of the company were exchanged, compared to its average volume of 650,450. The company has a 50-day moving average of $460.16 and a 200-day moving average of $441.03. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.73. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm has a market cap of $41.71 billion, a price-to-earnings ratio of 48.60, a price-to-earnings-growth ratio of 3.41 and a beta of 1.55.
IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released 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. The company had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. IDEXX Laboratories's revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.71 earnings per share. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
IDXX has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Stifel Nicolaus increased their price objective on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a report on Monday, May 19th. Morgan Stanley lifted their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Finally, Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and an average target price of $536.00.
Check Out Our Latest Report on IDXX
IDEXX Laboratories Company Profile
(
Free Report)
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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