Procyon Advisors LLC Has $890,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Procyon Advisors LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 50.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,119 shares of the company's stock after purchasing an additional 709 shares during the period. Procyon Advisors LLC's holdings in IDEXX Laboratories were worth $890,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Colonial Trust Co SC raised its stake 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 acquiring an additional 39 shares during the last quarter. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $38,000. Finally, Itau Unibanco Holding S.A. grew its position in IDEXX Laboratories by 540.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the last quarter. Institutional investors own 87.84% of the company's stock.

Insider Activity

In other 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 completion of the sale, the director now directly owns 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $524.91 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $530.73. The stock has a market capitalization of $42.21 billion, a P/E ratio of 49.19, a P/E/G ratio of 3.41 and a beta of 1.55. The business has a 50-day moving average price of $460.16 and a two-hundred day moving average price of $440.88.

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

Analyst Upgrades and Downgrades

IDXX has been the subject of several research analyst reports. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. 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. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a research report on Monday, May 19th. Finally, Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $536.00.

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.

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