KFG Wealth Management LLC Invests $538,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KFG Wealth Management LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, Holdings Channel.com reports. The firm bought 969 shares of the company’s stock, valued at approximately $538,000.

Several other hedge funds also recently made changes to their positions in IDXX. OFI Invest Asset Management acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter worth $25,000. Valley National Advisers Inc. lifted its stake in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth $26,000. Geo Capital Gestora de Recursos Ltd acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter worth $28,000. Finally, Covestor Ltd lifted its stake in shares of IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after acquiring an additional 28 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IDXX. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. The Goldman Sachs Group increased their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Barclays increased their price target on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler downgraded shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. increased their price target on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

IDEXX Laboratories Price Performance

NASDAQ:IDXX traded down $1.44 during mid-day trading on Friday, hitting $476.35. 568,637 shares of the company’s stock traded hands, compared to its average volume of 429,223. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The firm’s 50 day simple moving average is $539.94 and its 200 day simple moving average is $508.49. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market cap of $39.56 billion, a PE ratio of 47.45, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results 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. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm had revenue of $901.60 million during the quarter, compared to the consensus estimate of $891.88 million. During the same period last year, the firm posted $2.05 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insiders Place Their Bets

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 have sold 43,524 shares of company stock valued at $24,871,960 in the last ninety days. Insiders own 2.11% of the company’s stock.

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.