Martin Capital Advisors LLP Grows Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Martin Capital Advisors LLP boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,117 shares of the company’s stock after buying an additional 23 shares during the quarter. IDEXX Laboratories makes up about 1.9% of Martin Capital Advisors LLP’s holdings, making the stock its 14th largest position. Martin Capital Advisors LLP’s holdings in IDEXX Laboratories were worth $2,285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Moneta Group Investment Advisors LLC grew its holdings 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 worth $3,038,192,000 after purchasing an additional 7,441,162 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in 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 acquiring an additional 214,529 shares during the period. Geode Capital Management LLC lifted 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 purchasing an additional 26,197 shares during the period. Blair William & Co. IL boosted its holdings in IDEXX Laboratories by 0.7% during the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock worth $524,700,000 after buying an additional 7,812 shares in the last quarter. Finally, Brown Advisory Inc. grew its position in IDEXX Laboratories by 2.2% during the third quarter. Brown Advisory Inc. now owns 1,161,124 shares of the company’s stock worth $507,725,000 after buying an additional 24,741 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on IDXX shares. 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. lifted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Barclays raised their price target on IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research 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 on the stock. in a research note on Tuesday, January 30th. Finally, William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Trading Down 0.3 %

Shares of NASDAQ IDXX traded down $1.44 on Friday, reaching $476.35. 565,634 shares of the company traded hands, compared to its average volume of 429,180. The company has a 50 day moving average of $539.94 and a 200 day moving average of $508.49. 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, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The stock has a market capitalization of $39.56 billion, a PE ratio of 47.45, a P/E/G ratio of 3.68 and a beta of 1.26.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS 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 analyst estimates of $891.88 million. During the same quarter in the prior year, the business posted $2.05 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 8.8% compared to the same quarter last year. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of IDEXX Laboratories 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 transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The sale was disclosed in a filing with the SEC, which is available at this link. In related 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 transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,524 shares of company stock valued at $24,871,960. Company insiders own 2.11% of the company’s stock.

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.