RIA Advisory Group LLC Purchases 35,841 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

RIA Advisory Group LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4,531.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,632 shares of the company’s stock after purchasing an additional 35,841 shares during the period. IDEXX Laboratories makes up approximately 5.9% of RIA Advisory Group LLC’s holdings, making the stock its 5th largest holding. RIA Advisory Group LLC’s holdings in IDEXX Laboratories were worth $20,333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of IDXX. Panagora Asset Management Inc. raised its holdings in shares of IDEXX Laboratories by 50.3% during the 1st quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock valued at $1,768,000 after buying an additional 1,081 shares during the period. Raymond James Trust N.A. increased its holdings in IDEXX Laboratories by 26.8% during the 1st quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock worth $888,000 after purchasing an additional 343 shares during the last quarter. Cetera Investment Advisers increased its holdings in IDEXX Laboratories by 77.1% during the 1st quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock worth $2,010,000 after purchasing an additional 1,600 shares during the last quarter. Moors & Cabot Inc. increased its holdings in IDEXX Laboratories by 3.0% during the 1st quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock worth $961,000 after purchasing an additional 52 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its holdings in IDEXX Laboratories by 15.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock worth $543,000 after purchasing an additional 134 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Barclays boosted their price target on 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 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. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $591.50.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $1.44 during midday trading on Friday, reaching $476.35. 565,634 shares of the company traded hands, compared to its average volume of 429,183. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a fifty day moving average price of $539.94 and a 200 day moving average price of $508.49. The firm has a market capitalization of $39.56 billion, a price-to-earnings ratio of 47.45, a price-to-earnings-growth ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. During the same quarter in the previous year, the firm posted $2.05 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Brian P. Mckeon sold 23,326 shares of the company’s 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 completion of the sale, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s 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 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. In the last quarter, insiders sold 43,524 shares of company stock worth $24,871,960. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories 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.