Raymond James Financial Services Advisors Inc. Has $11.33 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Raymond James Financial Services Advisors Inc. raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.6% in the first quarter, Holdings Channel reports. The fund owned 20,975 shares of the company’s stock after acquiring an additional 334 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in IDEXX Laboratories were worth $11,325,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Patron Partners LLC lifted its holdings in IDEXX Laboratories by 2.7% during the 4th quarter. Patron Partners LLC now owns 765 shares of the company’s stock worth $425,000 after buying an additional 20 shares in the last quarter. NewEdge Wealth LLC boosted its holdings in IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares during the last quarter. Manchester Capital Management LLC increased its position in IDEXX Laboratories by 11.9% in the fourth quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock worth $104,000 after purchasing an additional 20 shares during the period. Phoenix Holdings Ltd. raised its holdings in IDEXX Laboratories by 2.8% during the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock worth $338,000 after purchasing an additional 21 shares during the last quarter. Finally, BluePath Capital Management LLC lifted its position in IDEXX Laboratories by 1.8% during the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after purchasing an additional 21 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report 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 report on Tuesday, February 6th. Barclays cut their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective for the company. in a research note on Tuesday, January 30th. Finally, William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $580.88.

IDEXX Laboratories Trading Up 1.0 %

IDXX stock traded up $4.78 during midday trading on Friday, hitting $480.60. 547,954 shares of the company’s stock were exchanged, compared to its average volume of 509,434. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.17 and a current ratio of 1.57. The company has a market cap of $39.69 billion, a PE ratio of 46.52, a price-to-earnings-growth ratio of 3.74 and a beta of 1.27. The stock’s fifty day moving average price is $523.29 and its 200-day moving average price is $512.43.

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, beating the consensus estimate of $2.12 by $0.20. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. During the same quarter in the prior year, the company earned $2.05 earnings per share. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. Research analysts predict that IDEXX Laboratories, Inc. will post 11.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 value of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the 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 completion of the sale, the chief executive officer now owns 79,247 shares in the company, valued at $45,377,624.67. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, 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. In the last 90 days, insiders sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.11% of the company’s stock.

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.