Baron Wealth Management LLC Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Baron Wealth Management LLC increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 964 shares of the company’s stock after purchasing an additional 41 shares during the period. Baron Wealth Management LLC’s holdings in IDEXX Laboratories were worth $399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mather Group LLC. raised its stake in IDEXX Laboratories by 3.9% during the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after purchasing an additional 23 shares during the period. Sovereign Financial Group Inc. lifted its stake in shares of IDEXX Laboratories by 5.1% in the 3rd quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock valued at $237,000 after purchasing an additional 23 shares during the last quarter. Angeles Wealth Management LLC increased its position in shares of IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after purchasing an additional 25 shares during the last quarter. Cranbrook Wealth Management LLC boosted its stake in IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after buying an additional 25 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 1.8% in the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after acquiring an additional 26 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Up 0.2 %

IDXX stock opened at $418.75 on Thursday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The business’s 50-day moving average is $423.92 and its 200 day moving average is $455.05. 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 stock has a market cap of $34.29 billion, a price-to-earnings ratio of 40.38, a PEG ratio of 3.63 and a beta of 1.36.

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

Analysts Set New Price Targets

IDXX has been the topic of several research reports. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, 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 note on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $517.29.

Insider Transactions at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.