Trueblood Wealth Management LLC Invests $228,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Trueblood Wealth Management LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 410 shares of the company’s stock, valued at approximately $228,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in IDXX. Panagora Asset Management Inc. lifted its holdings in shares of IDEXX Laboratories by 50.3% during the 1st quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock worth $1,768,000 after acquiring an additional 1,081 shares during the period. Raymond James Trust N.A. increased its position in IDEXX Laboratories by 26.8% during the 1st quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock worth $888,000 after purchasing an additional 343 shares in the last quarter. Cetera Investment Advisers increased its position in IDEXX Laboratories by 77.1% during the 1st quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock worth $2,010,000 after purchasing an additional 1,600 shares in the last quarter. Moors & Cabot Inc. increased its position in IDEXX Laboratories by 3.0% during the 1st quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock worth $961,000 after purchasing an additional 52 shares in the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in IDEXX Laboratories by 15.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock worth $543,000 after purchasing an additional 134 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research report on Tuesday, January 30th. Barclays upped their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $591.50.

Insider Transactions at IDEXX Laboratories

In other news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 over the last three months. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Trading Up 0.1 %

Shares of NASDAQ IDXX opened at $539.93 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The firm has a 50 day moving average price of $548.25 and a two-hundred day moving average price of $501.97. The stock has a market cap of $44.86 billion, a P/E ratio of 53.62, a price-to-earnings-growth ratio of 2.96 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The company had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same period in the prior year, the company posted $2.05 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

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.