Oppenheimer & Co. Inc. Acquires 53 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by on Feb 25th, 2023

Oppenheimer & Co. Inc. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,595 shares of the company’s stock after acquiring an additional 53 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in IDEXX Laboratories were worth $519,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of IDXX. Ronald Blue Trust Inc. purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $34,000. Carolinas Wealth Consulting LLC lifted its position in IDEXX Laboratories by 42.3% during the second quarter. Carolinas Wealth Consulting LLC now owns 101 shares of the company’s stock valued at $35,000 after purchasing an additional 30 shares in the last quarter. Riverview Trust Co lifted its position in shares of IDEXX Laboratories by 202.8% in the third quarter. Riverview Trust Co now owns 109 shares of the company’s stock valued at $36,000 after acquiring an additional 73 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at about $44,000. Finally, Advanced Research Investment Solutions LLC purchased a new position in shares of IDEXX Laboratories in the third quarter valued at about $52,000. 87.90% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Down 2.1 %

IDXX opened at $468.17 on Friday. The stock has a market cap of $38.81 billion, a price-to-earnings ratio of 58.30, a P/E/G ratio of 2.76 and a beta of 1.17. The stock’s 50 day moving average price is $463.47 and its 200-day moving average price is $404.58. IDEXX Laboratories, Inc. has a one year low of $317.06 and a one year high of $560.92. The company has a debt-to-equity ratio of 1.14, a quick ratio of 0.59 and a current ratio of 0.89.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last released its earnings results on Monday, February 6th. The company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.92 by $0.13. The firm had revenue of $828.60 million for the quarter, compared to analysts’ expectations of $820.91 million. IDEXX Laboratories had a return on equity of 124.51% and a net margin of 20.17%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 9.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays boosted their target price on IDEXX Laboratories from $582.00 to $590.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 8th. JPMorgan Chase & Co. boosted their target price on IDEXX Laboratories from $525.00 to $550.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. Atlantic Securities boosted their target price on IDEXX Laboratories from $470.00 to $600.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 7th. TheStreet upgraded IDEXX Laboratories from a “c+” rating to a “b-” rating in a research report on Friday, November 25th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 3rd. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $514.75.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 740 shares of the stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $428.55, for a total value of $317,127.00. Following the transaction, the director now owns 1,260 shares of the company’s stock, valued at $539,973. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other IDEXX Laboratories news, SVP Kathy V. Turner sold 3,000 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $436.00, for a total transaction of $1,308,000.00. Following the completion of the sale, the senior vice president now owns 6,923 shares in the company, valued at $3,018,428. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 740 shares of the company’s stock in a transaction on Friday, December 2nd. The stock was sold at an average price of $428.55, for a total value of $317,127.00. Following the sale, the director now owns 1,260 shares of the company’s stock, valued at approximately $539,973. The disclosure for this sale can be found here. Insiders have sold a total of 9,786 shares of company stock valued at $4,433,623 over the last quarter. 2.06% of the stock is owned by corporate insiders.

IDEXX Laboratories Company Profile

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IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: Companion Animal Group (CAG), Water, Livestock, Poultry and Dairy (LPD), and Other.

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

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