Merit Financial Group LLC Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Merit Financial Group LLC boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 148.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,894 shares of the company's stock after buying an additional 1,133 shares during the period. Merit Financial Group LLC's holdings in IDEXX Laboratories were worth $795,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of IDXX. Norges Bank acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. GAMMA Investing LLC grew its holdings in IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after purchasing an additional 916,898 shares during the period. Flossbach Von Storch SE grew its holdings in IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock worth $195,696,000 after purchasing an additional 464,791 shares during the period. Alyeska Investment Group L.P. bought a new stake in IDEXX Laboratories in the fourth quarter valued at $156,412,000. Finally, William Blair Investment Management LLC raised its holdings in shares of IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after purchasing an additional 369,471 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several research reports. Morgan Stanley raised their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a research report on Monday, May 19th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $536.00.

IDEXX Laboratories Stock Performance

IDXX stock traded up $7.33 during midday trading on Tuesday, reaching $525.93. 402,495 shares of the company's stock traded hands, compared to its average volume of 649,800. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $530.73. The company has a 50-day moving average price of $462.00 and a two-hundred day moving average price of $441.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market capitalization of $42.30 billion, a PE ratio of 49.29, a price-to-earnings-growth ratio of 3.41 and a beta of 1.55.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The business had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. During the same quarter last year, the company earned $2.71 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was 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 in the company, valued at $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.98% of the company's stock.

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.