Procyon Advisors LLC Acquires 58 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Procyon Advisors LLC lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,412 shares of the company’s stock after purchasing an additional 58 shares during the period. Procyon Advisors LLC’s holdings in IDEXX Laboratories were worth $784,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. bought a new stake in IDEXX Laboratories in the third quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in IDEXX Laboratories in the fourth quarter worth $26,000. Geo Capital Gestora de Recursos Ltd bought a new stake in IDEXX Laboratories in the third quarter worth $28,000. Finally, Covestor Ltd lifted its position in IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDXX has been the subject of several research analyst reports. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. Barclays lifted their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Friday, January 5th. The Goldman Sachs Group raised their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, BNP Paribas assumed coverage on IDEXX Laboratories in a research note on Thursday, December 7th. They set an “outperform” rating and a $602.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Trading Up 0.1 %

IDXX traded up $0.63 during mid-day trading on Thursday, hitting $540.20. 30,803 shares of the stock were exchanged, compared to its average volume of 423,959. The firm’s fifty day moving average is $547.76 and its two-hundred day moving average is $501.71. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The company has a market cap of $44.89 billion, a PE ratio of 53.64, a PEG ratio of 2.91 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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. The firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.05 earnings per share. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’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 value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the transaction, the senior vice president now owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were 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 directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is owned by corporate insiders.

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.