Kovack Advisors Inc. Invests $1.46 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kovack Advisors Inc. acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 2,625 shares of the company’s stock, valued at approximately $1,457,000.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. Bryn Mawr Capital Management LLC raised its stake in shares of IDEXX Laboratories by 0.8% during the 4th quarter. Bryn Mawr Capital Management LLC now owns 10,678 shares of the company’s stock worth $5,927,000 after buying an additional 80 shares in the last quarter. Motley Fool Asset Management LLC raised its stake in shares of IDEXX Laboratories by 6.2% during the 4th quarter. Motley Fool Asset Management LLC now owns 2,565 shares of the company’s stock worth $1,424,000 after buying an additional 150 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its stake in shares of IDEXX Laboratories by 2.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 171,290 shares of the company’s stock worth $95,074,000 after buying an additional 3,433 shares in the last quarter. Stevens Capital Management LP raised its stake in shares of IDEXX Laboratories by 22.3% during the 4th quarter. Stevens Capital Management LP now owns 1,570 shares of the company’s stock worth $871,000 after buying an additional 286 shares in the last quarter. Finally, Syon Capital LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $397,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

IDEXX Laboratories Trading Up 2.1 %

IDEXX Laboratories stock traded up $10.06 during midday trading on Friday, reaching $499.30. The stock had a trading volume of 529,834 shares, compared to its average volume of 416,262. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The stock has a market capitalization of $41.47 billion, a PE ratio of 49.58, a price-to-earnings-growth ratio of 3.77 and a beta of 1.26. 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 stock’s 50-day simple moving average is $531.02 and its 200 day simple moving average is $510.75.

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 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 firm had revenue of $901.60 million for the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter last year, the firm earned $2.05 earnings per share. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. 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 business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories stock in a transaction dated Wednesday, February 7th. The stock was 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 $45,377,624.67. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’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 completion of the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock worth $24,871,960 over the last quarter. 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.