Sax Wealth Advisors LLC Buys 617 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sax Wealth Advisors LLC boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 76.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,426 shares of the company’s stock after purchasing an additional 617 shares during the period. Sax Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $590,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after buying an additional 57 shares in the last quarter. Mowery & Schoenfeld Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in IDEXX Laboratories during the third quarter valued at $37,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in IDEXX Laboratories in the second quarter worth about $36,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX opened at $419.26 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $34.33 billion, a PE ratio of 40.43, a P/E/G ratio of 3.52 and a beta of 1.36. The firm has a 50 day moving average of $423.60 and a two-hundred day moving average of $458.13.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, October 31st. The company reported $2.80 EPS for the quarter, topping the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The business had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. During the same quarter in the prior year, the firm posted $2.53 EPS. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of analyst reports. Barclays cut their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Leerink Partners assumed coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Piper Sandler reiterated a “neutral” rating and set a $435.00 price objective (down from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus cut their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research note on Thursday, October 10th. Finally, JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $523.86.

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.