Marshall Financial Group LLC Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Marshall Financial Group LLC increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,719 shares of the company’s stock after purchasing an additional 154 shares during the quarter. Marshall Financial Group LLC’s holdings in IDEXX Laboratories were worth $928,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IDXX. Truist Financial Corp lifted its stake in IDEXX Laboratories by 2.7% during the third quarter. Truist Financial Corp now owns 49,327 shares of the company’s stock worth $21,569,000 after purchasing an additional 1,310 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in IDEXX Laboratories by 166.7% during the third quarter. Glenmede Trust Co. NA now owns 3,595 shares of the company’s stock worth $1,572,000 after purchasing an additional 2,247 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in IDEXX Laboratories by 9.6% in the third quarter. Advisors Asset Management Inc. now owns 2,007 shares of the company’s stock valued at $878,000 after buying an additional 176 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in IDEXX Laboratories by 51.3% in the third quarter. Ameriprise Financial Inc. now owns 225,150 shares of the company’s stock valued at $98,353,000 after buying an additional 76,350 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in IDEXX Laboratories by 31.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 108,756 shares of the company’s stock valued at $47,556,000 after buying an additional 26,055 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.1 %

NASDAQ:IDXX opened at $477.49 on Friday. The firm has a market cap of $39.44 billion, a P/E ratio of 46.22, a PEG ratio of 3.90 and a beta of 1.32. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The stock’s 50 day simple moving average is $500.62 and its 200-day simple moving average is $524.93. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The firm had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IDXX. Barclays reduced their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Stifel Nicolaus reduced their price objective 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. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Morgan Stanley reduced their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $586.63.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the transaction, the director now owns 161 shares in the company, valued at $87,068.80. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.18% of the stock is owned by corporate insiders.

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.