Oppenheimer & Co. Inc. Has $2.20 Million Stock Holdings in IDEXX Laboratories, Inc. $IDXX

Key Points

• Oppenheimer & Co. Inc. boosted its stake in IDEXX by 294.7% in Q4, adding 2,428 shares to hold 3,252 shares worth about $2.20 million.
• IDEXX beat expectations for the quarter with EPS of $3.08 (vs. $2.93 est.) and revenue of $1.09 billion (up 14.3% YoY); analysts project full-year EPS of 14.54 and the consensus rating is a "Moderate Buy" with an average target of $751.
• Insiders have been net sellers: Director Sophie Vandebroek sold 1,464 shares and CEO Jonathan Mazelsky sold 23,326 shares (≈$15.34M), with insiders selling 45,957 shares worth about $29.86M over the last three months.

Oppenheimer & Co. Inc. boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 294.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,252 shares of the company's stock after buying an additional 2,428 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in IDEXX Laboratories were worth $2,200,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IDXX. Empowered Funds LLC raised its position in IDEXX Laboratories by 6.6% in the 1st quarter. Empowered Funds LLC now owns 1,538 shares of the company's stock valued at $646,000 after buying an additional 95 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $265,000. Jump Financial LLC raised its position in IDEXX Laboratories by 1,006.4% in the 2nd quarter. Jump Financial LLC now owns 5,532 shares of the company's stock valued at $2,967,000 after buying an additional 5,032 shares during the last quarter. Cary Street Partners Financial LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter valued at approximately $164,000. Finally, Sei Investments Co. raised its position in IDEXX Laboratories by 218.7% in the 2nd quarter. Sei Investments Co. now owns 120,587 shares of the company's stock valued at $64,678,000 after buying an additional 82,755 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 0.8%

NASDAQ:IDXX opened at $563.12 on Tuesday. The firm has a market capitalization of $44.73 billion, a price-to-earnings ratio of 43.08, a price-to-earnings-growth ratio of 3.45 and a beta of 1.58. IDEXX Laboratories, Inc. has a twelve month low of $465.00 and a twelve month high of $769.98. The stock's 50 day moving average price is $589.55 and its two-hundred day moving average price is $651.34. The company has a quick ratio of 0.90, a current ratio of 1.23 and a debt-to-equity ratio of 0.23.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings results on Monday, February 2nd. The company reported $3.08 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.15. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. IDEXX Laboratories had a return on equity of 69.78% and a net margin of 24.62%.The business's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.53 EPS. Equities research analysts expect that IDEXX Laboratories, Inc. will post 14.54 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sophie V. Vandebroek sold 1,464 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $628.62, for a total transaction of $920,299.68. Following the completion of the transaction, the director directly owned 648 shares in the company, valued at approximately $407,345.76. The trade was a 69.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $657.55, for a total value of $15,338,011.30. Following the transaction, the chief executive officer owned 83,606 shares of the company's stock, valued at $54,975,125.30. This represents a 21.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 45,957 shares of company stock worth $29,862,109. Corporate insiders own 0.79% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IDXX. UBS Group dropped their target price on IDEXX Laboratories from $730.00 to $640.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 28th. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $775.00 to $675.00 and set a "buy" rating on the stock in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of IDEXX Laboratories in a research report on Monday, April 27th. Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 25th. Finally, Barclays lowered their price target on IDEXX Laboratories from $850.00 to $800.00 and set an "overweight" rating on the stock in a research report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $751.00.

About IDEXX Laboratories

IDEXX Laboratories, Inc NASDAQ: IDXX is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.

IDEXX's product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.

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