Legal Advantage Investments Inc. Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Legal Advantage Investments Inc. raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,295 shares of the company’s stock after purchasing an additional 1,440 shares during the quarter. IDEXX Laboratories accounts for approximately 1.4% of Legal Advantage Investments Inc.’s portfolio, making the stock its 26th largest holding. Legal Advantage Investments Inc.’s holdings in IDEXX Laboratories were worth $2,603,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its stake in shares of IDEXX Laboratories by 4.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,295 shares of the company’s stock valued at $2,039,000 after buying an additional 176 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of IDEXX Laboratories by 2.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,657 shares of the company’s stock valued at $807,000 after buying an additional 45 shares in the last quarter. Bridges Investment Management Inc. acquired a new stake in shares of IDEXX Laboratories in the second quarter valued at about $255,000. AE Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 16.6% in the second quarter. AE Wealth Management LLC now owns 7,957 shares of the company’s stock valued at $3,877,000 after buying an additional 1,134 shares in the last quarter. Finally, Pacer Advisors Inc. grew its stake in shares of IDEXX Laboratories by 25.2% in the second quarter. Pacer Advisors Inc. now owns 12,013 shares of the company’s stock valued at $5,853,000 after buying an additional 2,416 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Down 2.2 %

Shares of IDEXX Laboratories stock opened at $419.26 on Tuesday. The business’s fifty day moving average price is $423.60 and its two-hundred day moving average price is $457.86. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market capitalization of $34.33 billion, a P/E ratio of 40.43, a PEG ratio of 3.53 and a beta of 1.36. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on IDXX shares. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, November 28th. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Piper Sandler restated a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research note on Thursday, October 10th. Finally, Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $523.86.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction 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 transaction, the director now directly owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.18% of the stock is 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.