GAMMA Investing LLC Acquires 654 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

GAMMA Investing LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,187 shares of the company's stock after purchasing an additional 654 shares during the period. GAMMA Investing LLC's holdings in IDEXX Laboratories were worth $918,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. Hurley Capital LLC bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $29,000. Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Colonial Trust Co SC boosted its holdings in shares of 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 buying an additional 39 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of 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 acquiring an additional 81 shares in the last quarter. Finally, Retirement Wealth Solutions LLC lifted its position in IDEXX Laboratories by 40.0% in the 1st quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after acquiring an additional 30 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 1,260 shares of the business's 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 transaction, the director directly owned 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on IDXX shares. Wall Street Zen lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday. They issued a "buy" rating and a $625.00 price target on the stock. Morgan Stanley increased their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Leerink Partners boosted their target price on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Finally, Stifel Nicolaus upped their price target on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $558.11.

IDEXX Laboratories Stock Up 0.0%

NASDAQ IDXX traded up $0.06 during trading hours on Wednesday, hitting $542.71. 380,154 shares of the company traded hands, compared to its average volume of 645,712. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. The business's 50-day moving average is $504.03 and its 200-day moving average is $452.31. The stock has a market capitalization of $43.64 billion, a price-to-earnings ratio of 50.16, a P/E/G ratio of 3.96 and a beta of 1.54. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $548.10.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The company had revenue of $998.43 million for the quarter, compared to analysts' expectations of $998.25 million. During the same quarter in the prior year, the business posted $2.71 EPS. The business's revenue was up 3.6% compared to the same quarter last year. Sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 earnings per share 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.