Pallas Capital Advisors LLC Makes New $467,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pallas Capital Advisors LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 1,113 shares of the company's stock, valued at approximately $467,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. United Capital Financial Advisors LLC raised its position in shares of IDEXX Laboratories by 0.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after buying an additional 22 shares during the last quarter. Gabelli Funds LLC grew its stake in IDEXX Laboratories by 5.3% during the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company's stock valued at $207,000 after acquiring an additional 25 shares in the last quarter. Summit Trail Advisors LLC grew its stake in IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock valued at $335,000 after acquiring an additional 26 shares in the last quarter. Forum Financial Management LP increased its holdings in IDEXX Laboratories by 4.9% in the 4th quarter. Forum Financial Management LP now owns 621 shares of the company's stock valued at $257,000 after acquiring an additional 29 shares during the last quarter. Finally, Retirement Wealth Solutions LLC increased its holdings 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 during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director now directly owns 1,801 shares of the company's stock, valued at $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Trading Down 0.8%

Shares of NASDAQ:IDXX traded down $4.22 on Friday, hitting $522.70. 411,464 shares of the company's stock were exchanged, compared to its average volume of 648,813. The stock has a market capitalization of $42.04 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 3.41 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $537.00. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The business's 50 day simple moving average is $469.88 and its two-hundred day simple moving average is $443.57.

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

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Stifel Nicolaus boosted their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Leerink Partners raised their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a report on Wednesday. Finally, Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $546.00.

About IDEXX Laboratories

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.