GAMMA Investing LLC Makes New $263,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

GAMMA Investing LLC acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 510 shares of the company’s stock, valued at approximately $263,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Patron Partners LLC lifted its stake in shares of IDEXX Laboratories by 2.7% in the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after acquiring an additional 20 shares in the last quarter. NewEdge Wealth LLC lifted its stake in shares of IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock worth $366,000 after acquiring an additional 20 shares in the last quarter. Phoenix Holdings Ltd. lifted its stake in shares of IDEXX Laboratories by 2.8% in the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after acquiring an additional 21 shares in the last quarter. BluePath Capital Management LLC lifted its stake in shares of IDEXX Laboratories by 1.8% in the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock worth $663,000 after acquiring an additional 21 shares in the last quarter. Finally, Valley National Advisers Inc. lifted its stake in shares of IDEXX Laboratories by 84.6% in the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on IDXX. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. The Goldman Sachs Group boosted their price target on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. JPMorgan Chase & Co. boosted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a report on Tuesday, January 30th. Finally, Barclays boosted their price objective on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $591.50.

IDEXX Laboratories Stock Down 1.0 %

NASDAQ:IDXX opened at $489.24 on Friday. The firm has a market capitalization of $40.63 billion, a PE ratio of 48.58, a price-to-earnings-growth ratio of 3.81 and a beta of 1.26. The stock has a 50 day moving average of $532.15 and a 200-day moving average of $510.35. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week 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.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 71.66% and a net margin of 23.08%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.05 earnings per share. Analysts predict that IDEXX Laboratories, Inc. will post 11.15 EPS for the current year.

Insider Activity

In other news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’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 owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.11% of the stock is currently owned by 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.