Sax Wealth Advisors LLC Invests $497,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sax Wealth Advisors LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, Holdings Channel.com reports. The firm bought 1,021 shares of the company’s stock, valued at approximately $497,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in IDEXX Laboratories in the fourth quarter valued at $512,190,000. Capital Research Global Investors acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $135,910,000. TD Asset Management Inc boosted its position in shares of IDEXX Laboratories by 178.8% during the 4th quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock valued at $144,317,000 after purchasing an additional 166,751 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $78,001,000. Finally, Jupiter Asset Management Ltd. bought a new stake in IDEXX Laboratories in the first quarter worth approximately $55,425,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 0.2 %

IDXX traded down $1.07 during midday trading on Friday, reaching $482.84. 354,043 shares of the company were exchanged, compared to its average volume of 491,655. The company has a market cap of $39.88 billion, a price-to-earnings ratio of 46.74, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company’s fifty day moving average price is $485.85 and its 200 day moving average price is $512.95. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the company posted $2.67 EPS. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, analysts expect that IDEXX Laboratories, Inc. will post 11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on IDXX shares. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Stifel Nicolaus reduced their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Barclays dropped 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, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average price target of $582.88.

Insider Transactions at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the transaction, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.