Sage Mountain Advisors LLC Acquires 52 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sage Mountain Advisors LLC lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 540 shares of the company’s stock after buying an additional 52 shares during the quarter. Sage Mountain Advisors LLC’s holdings in IDEXX Laboratories were worth $300,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in IDEXX Laboratories in the third quarter worth $25,000. Valley National Advisers Inc. increased its stake in IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after buying an additional 22 shares during the period. Geo Capital Gestora de Recursos Ltd bought a new stake in shares of IDEXX Laboratories during the third quarter valued at approximately $28,000. Covestor Ltd raised its position in IDEXX Laboratories by 71.8% during the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after purchasing an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of IDEXX Laboratories by 108.6% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on IDXX shares. The Goldman Sachs Group raised their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Barclays boosted their price objective on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Finally, 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. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $591.50.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $479.57 on Tuesday. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 1.57. The company has a market cap of $39.83 billion, a PE ratio of 47.62, a P/E/G ratio of 3.67 and a beta of 1.26. The business has a 50-day simple moving average of $536.30 and a two-hundred day simple moving average of $510.27.

IDEXX Laboratories (NASDAQ:IDXX) last released its 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 company had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. During the same quarter in the previous year, the firm earned $2.05 EPS. IDEXX Laboratories’s revenue was up 8.8% compared to the same quarter last year. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 11.15 EPS for the current fiscal year.

Insider Activity

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of the 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 transaction, the senior vice president now directly owns 6,712 shares of the company’s stock, valued at $3,851,815.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total value of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock valued at $24,871,960 over the last ninety days. 2.18% of the stock is currently owned by insiders.

IDEXX Laboratories 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.