HB Wealth Management LLC Purchases 106 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Posted by on Jun 27th, 2023

HB Wealth Management LLC lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX – Get Rating) by 10.2% during the first quarter, HoldingsChannel reports. The firm owned 1,142 shares of the company’s stock after purchasing an additional 106 shares during the period. HB Wealth Management LLC’s holdings in IDEXX Laboratories were worth $571,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in IDXX. Moneta Group Investment Advisors LLC increased its holdings in shares of IDEXX Laboratories by 121,647.2% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock worth $3,038,192,000 after purchasing an additional 7,441,162 shares during the period. Norges Bank bought a new position in IDEXX Laboratories during the fourth quarter valued at about $336,416,000. BlackRock Inc. raised its holdings in IDEXX Laboratories by 4.2% in the 3rd quarter. BlackRock Inc. now owns 8,792,300 shares of the company’s stock valued at $2,864,533,000 after acquiring an additional 358,427 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of IDEXX Laboratories by 11.5% in the 4th quarter. Alliancebernstein L.P. now owns 3,240,710 shares of the company’s stock worth $1,322,080,000 after acquiring an additional 334,020 shares during the period. Finally, Morgan Stanley grew its holdings in shares of IDEXX Laboratories by 36.0% during the 4th quarter. Morgan Stanley now owns 986,232 shares of the company’s stock worth $402,344,000 after purchasing an additional 260,926 shares in the last quarter. Institutional investors and hedge funds own 86.53% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $481.82 on Tuesday. IDEXX Laboratories, Inc. has a 1-year low of $317.06 and a 1-year high of $515.79. The company has a 50 day moving average of $477.96 and a 200-day moving average of $470.65. The company has a current ratio of 1.08, a quick ratio of 0.71 and a debt-to-equity ratio of 0.83. The firm has a market cap of $39.94 billion, a price-to-earnings ratio of 57.98, a PEG ratio of 2.93 and a beta of 1.19.

IDEXX Laboratories (NASDAQ:IDXX – Get Rating) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $2.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.17. The firm had revenue of $900.20 million during the quarter, compared to the consensus estimate of $887.36 million. IDEXX Laboratories had a return on equity of 117.37% and a net margin of 20.38%. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 9.65 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IDXX. StockNews.com initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Morgan Stanley lifted their target price on shares of IDEXX Laboratories from $543.00 to $590.00 and gave the company an “overweight” rating in a research report on Thursday, March 23rd. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $527.86.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP Michael Lane sold 1,000 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $484.00, for a total value of $484,000.00. Following the completion of the transaction, the executive vice president now directly owns 4,022 shares of the company’s stock, valued at $1,946,648. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Jonathan W. Ayers sold 10,000 shares of IDEXX Laboratories stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $489.23, for a total value of $4,892,300.00. Following the completion of the sale, the director now directly owns 137,039 shares in the company, valued at $67,043,589.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Michael Lane sold 1,000 shares of the company’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $484.00, for a total transaction of $484,000.00. Following the transaction, the executive vice president now owns 4,022 shares in the company, valued at $1,946,648. The disclosure for this sale can be found here. Insiders have sold a total of 13,187 shares of company stock valued at $6,402,047 in the last 90 days. 2.11% of the stock is currently owned by insiders.

IDEXX Laboratories Company Profile

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IDEXX Laboratories, Inc develops, manufactures, and distributes products primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. 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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