Liberty Wealth Management LLC Buys Shares of 20,998 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Liberty Wealth Management LLC acquired 20,998 shares of IDEXX Laboratories worth approximately $8.8 million, marking a new investment in the company during the first quarter.
• IDEXX Laboratories reported earnings of $2.96 per share for the last quarter, exceeding analysts' expectations, with revenue of $998.43 million, a 3.6% increase year-over-year.
• Analysts maintain a consensus rating of “Moderate Buy” for IDEXX Laboratories, with an average target price of $557.88, following recent upgrades from several financial institutions.

Liberty Wealth Management LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 20,998 shares of the company's stock, valued at approximately $8,818,000.

A number of other institutional investors have also recently made changes to their positions in IDXX. MorganRosel Wealth Management LLC acquired a new position in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Hurley Capital LLC acquired a new position in IDEXX Laboratories during the 4th quarter worth approximately $29,000. Colonial Trust Co SC grew its holdings in 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 acquiring an additional 39 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its holdings in IDEXX Laboratories by 55.6% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 84 shares of the company's stock worth $35,000 after acquiring an additional 30 shares in the last quarter. Finally, Bank of Jackson Hole Trust grew its holdings in IDEXX Laboratories by 328.6% during the 1st quarter. Bank of Jackson Hole Trust now owns 90 shares of the company's stock worth $39,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $8.42 during trading hours on Wednesday, reaching $633.52. The company had a trading volume of 183,928 shares, compared to its average volume of 736,366. The firm has a 50 day simple moving average of $537.43 and a 200-day simple moving average of $475.11. The company has a current ratio of 1.11, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $50.95 billion, a price-to-earnings ratio of 52.88, a PEG ratio of 4.71 and a beta of 1.49. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $688.12.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.28 by $0.35. The business had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The business's revenue was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm posted $2.44 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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 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 completion of the transaction, the director directly owned 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.98% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. BTIG Research boosted their price target on shares of IDEXX Laboratories from $545.00 to $785.00 and gave the stock a "buy" rating in a report on Tuesday. Morgan Stanley set a $722.00 target price on shares of IDEXX Laboratories and gave the company an "overweight" rating in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 target price for the company. Leerink Partners upped their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $623.56.

IDEXX Laboratories Company 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.