Marks Group Wealth Management Inc Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Marks Group Wealth Management Inc boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,833 shares of the company's stock after buying an additional 824 shares during the period. Marks Group Wealth Management Inc's holdings in IDEXX Laboratories were worth $4,969,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. MorganRosel Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the first quarter valued at $26,000. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $29,000. Colonial Trust Co SC increased its holdings in shares of IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares during the last quarter. Itau Unibanco Holding S.A. raised its position 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 valued at $40,000 after buying an additional 81 shares in the last quarter. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of IDEXX Laboratories by 108.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 104 shares of the company's stock valued at $44,000 after acquiring an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of recent research reports. Wall Street Zen upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday. Leerink Partners increased their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group started coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target for the company. Finally, Morgan Stanley increased their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $558.11.

Insiders Place Their Bets

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 transaction of $645,548.40. Following the sale, the director directly owned 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Performance

IDXX stock traded down $7.72 during trading on Friday, hitting $533.37. 348,343 shares of the company traded hands, compared to its average volume of 648,553. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $549.52. 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. The stock's 50-day simple moving average is $519.68 and its 200 day simple moving average is $459.28. 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 (NASDAQ:IDXX - Get Free Report) last posted its earnings results 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. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The firm had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the firm earned $2.71 EPS. The business's quarterly revenue was up 3.6% on a year-over-year basis. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.