United Asset Strategies Inc. Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

United Asset Strategies Inc. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The firm owned 23,652 shares of the company’s stock after buying an additional 444 shares during the quarter. IDEXX Laboratories comprises 1.5% of United Asset Strategies Inc.’s investment portfolio, making the stock its 19th largest position. United Asset Strategies Inc.’s holdings in IDEXX Laboratories were worth $13,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC increased its position in shares of IDEXX Laboratories by 121,647.2% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,447,279 shares of the company’s stock valued at $3,038,192,000 after acquiring an additional 7,441,162 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of IDEXX Laboratories by 6.4% in the second quarter. Alliancebernstein L.P. now owns 3,592,832 shares of the company’s stock valued at $1,804,428,000 after buying an additional 214,529 shares during the period. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.4% in the first quarter. Geode Capital Management LLC now owns 1,946,339 shares of the company’s stock valued at $971,569,000 after buying an additional 26,197 shares during the period. Blair William & Co. IL grew its position in shares of IDEXX Laboratories by 0.7% in the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after purchasing an additional 7,812 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in shares of IDEXX Laboratories by 2.2% in the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock valued at $507,725,000 after purchasing an additional 24,741 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the sale, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP George Fennell sold 8,198 shares of IDEXX Laboratories stock in a transaction 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 sale, the senior vice president now owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock valued at $24,871,960 in the last 90 days. Company insiders own 2.18% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded up $1.95 during mid-day trading on Tuesday, hitting $493.24. The company’s stock had a trading volume of 212,458 shares, compared to its average volume of 421,324. The business’s fifty day moving average is $545.29 and its two-hundred day moving average is $508.55. The stock has a market cap of $40.96 billion, a price-to-earnings ratio of 48.79, a PEG ratio of 3.83 and a beta of 1.26. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17.

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

Analyst Ratings Changes

IDXX has been the subject of several recent analyst reports. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, December 20th. The Goldman Sachs Group upped their price objective on IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Barclays boosted their target price on IDEXX Laboratories from $605.00 to $655.00 and gave the company an “overweight” rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. boosted their target price 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, Piper Sandler lowered IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target for the company. in a research report on Tuesday, January 30th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $591.50.

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.