Benjamin F. Edwards & Company Inc. Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Benjamin F. Edwards & Company Inc. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 58.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,621 shares of the company’s stock after purchasing an additional 596 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in IDEXX Laboratories were worth $900,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its position in shares of IDEXX Laboratories by 4.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,650 shares of the company’s stock worth $3,345,000 after buying an additional 302 shares during the last quarter. Mackenzie Financial Corp lifted its position in IDEXX Laboratories by 0.8% in the third quarter. Mackenzie Financial Corp now owns 43,678 shares of the company’s stock valued at $18,572,000 after acquiring an additional 326 shares during the last quarter. Strs Ohio boosted its stake in IDEXX Laboratories by 1.0% in the third quarter. Strs Ohio now owns 19,558 shares of the company’s stock valued at $8,552,000 after acquiring an additional 196 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of IDEXX Laboratories by 6.3% during the third quarter. IFM Investors Pty Ltd now owns 19,298 shares of the company’s stock worth $8,438,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of IDEXX Laboratories by 16.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,971 shares of the company’s stock worth $40,653,000 after purchasing an additional 13,062 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other news, SVP George Fennell sold 8,198 shares of the stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the transaction, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on IDXX. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. The Goldman Sachs Group raised 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. Barclays reduced their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research report on Tuesday, January 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $580.88.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $483.68 on Wednesday. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $519.60 and a 200 day moving average price of $514.34. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The company has a market cap of $39.95 billion, a P/E ratio of 46.82, a PEG ratio of 3.78 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. The business had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. Research analysts predict that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current year.

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.