Colonial River Wealth Management LLC Makes New $554,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Colonial River Wealth Management LLC purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXXFree Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 999 shares of the company’s stock, valued at approximately $554,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. State of Michigan Retirement System increased its stake in IDEXX Laboratories by 0.5% in the 4th quarter. State of Michigan Retirement System now owns 41,455 shares of the company’s stock worth $23,010,000 after purchasing an additional 200 shares in the last quarter. Financial Management Network Inc. bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $224,000. Nvest Financial LLC grew its stake in shares of IDEXX Laboratories by 48.2% in the 4th quarter. Nvest Financial LLC now owns 1,607 shares of the company’s stock valued at $892,000 after buying an additional 523 shares in the last quarter. Waypoint Capital Advisors LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $222,000. Finally, Chicago Capital LLC lifted its holdings in IDEXX Laboratories by 2.5% in the 4th quarter. Chicago Capital LLC now owns 93,963 shares of the company’s stock worth $52,154,000 after purchasing an additional 2,276 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IDXX has been the subject of several analyst reports. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a report on Tuesday, January 30th. The Goldman Sachs Group increased their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays increased their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, BNP Paribas initiated coverage on IDEXX Laboratories in a research note on Thursday, December 7th. They set an “outperform” rating and a $602.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

Read Our Latest Stock Analysis on IDEXX Laboratories

Insider Buying and Selling at IDEXX Laboratories

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 in the last three months. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $10.74 during mid-day trading on Tuesday, hitting $521.67. 382,312 shares of the stock were exchanged, compared to its average volume of 425,570. The stock has a market capitalization of $43.32 billion, a price-to-earnings ratio of 51.80, a price-to-earnings-growth ratio of 2.96 and a beta of 1.26. The firm’s 50-day simple moving average is $548.88 and its 200 day simple moving average is $503.75. 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 fifty-two week low of $372.50 and a fifty-two week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last announced its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.20. The firm 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 71.66% and a net margin of 23.08%. The company’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

IDEXX Laboratories Company Profile

(Free Report)

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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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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