Retirement Wealth Solutions LLC Acquires New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Retirement Wealth Solutions LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 75 shares of the company’s stock, valued at approximately $31,000.

Other institutional investors have also made changes to their positions in the company. Cranbrook Wealth Management LLC raised its holdings in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after purchasing an additional 25 shares during the period. Sax Wealth Advisors LLC grew its stake in IDEXX Laboratories by 76.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after acquiring an additional 617 shares during the period. Merit Financial Group LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $315,000. Avanza Fonder AB acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $2,688,000. Finally, RDA Financial Network raised its holdings in IDEXX Laboratories by 47.1% during the 4th quarter. RDA Financial Network now owns 2,605 shares of the company’s stock worth $1,077,000 after buying an additional 834 shares during the period. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IDXX shares. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. JPMorgan Chase & Co. cut their target price on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Finally, Stifel Nicolaus lowered their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $523.86.

IDEXX Laboratories Price Performance

IDXX stock opened at $419.26 on Friday. The stock has a market cap of $34.33 billion, a price-to-earnings ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a 50 day simple moving average of $423.88 and a 200 day simple moving average of $458.53. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The business had revenue of $975.50 million during the quarter, compared to analyst estimates of $980.32 million. During the same quarter last year, the business earned $2.53 EPS. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. Research analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.18% 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.