Spire Wealth Management Boosts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Spire Wealth Management boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 46.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,328 shares of the company’s stock after buying an additional 4,239 shares during the quarter. Spire Wealth Management’s holdings in IDEXX Laboratories were worth $6,981,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Valley National Advisers Inc. boosted its stake in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the period. OFI Invest Asset Management purchased a new stake in shares of IDEXX Laboratories during the third quarter valued at $25,000. Venturi Wealth Management LLC lifted its stake in IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after acquiring an additional 43 shares during the period. Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories in the third quarter worth about $28,000. Finally, Covestor Ltd raised its holdings 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 purchasing an additional 28 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

IDXX stock traded down $3.73 during trading on Monday, hitting $476.87. The stock had a trading volume of 298,172 shares, compared to its average volume of 442,893. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company’s 50-day moving average price is $523.29 and its two-hundred day moving average price is $513.58. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. The stock has a market capitalization of $39.38 billion, a P/E ratio of 46.52, a PEG ratio of 3.78 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 11.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related 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 value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value 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 disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 in the last ninety days. Company insiders own 2.18% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of recent research reports. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Barclays cut their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday. The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Finally, Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research note on Tuesday, January 30th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $580.88.

IDEXX Laboratories Company 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.