Alesco Advisors LLC Buys New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Alesco Advisors LLC purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 500 shares of the company’s stock, valued at approximately $278,000.

Several other hedge funds have also bought and sold shares of IDXX. OFI Invest Asset Management purchased a new stake in IDEXX Laboratories in the 3rd quarter worth $25,000. Valley National Advisers Inc. lifted 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 purchasing an additional 22 shares in the last quarter. Geo Capital Gestora de Recursos Ltd purchased a new stake in IDEXX Laboratories in the 3rd quarter worth $28,000. Covestor Ltd lifted its stake in IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 28 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its stake in IDEXX Laboratories by 108.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 73 shares of the company’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $570.01, for a total value of $13,296,053.26. Following the transaction, the chief financial officer now directly owns 29,718 shares in the company, valued at approximately $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP George Fennell sold 8,198 shares of the company’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total value of $4,704,586.26. Following the completion of the sale, the senior vice president now owns 6,712 shares of the company’s stock, valued at approximately $3,851,815.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders have sold 43,524 shares of company stock worth $24,871,960 in the last three months. Corporate insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the topic of several research analyst reports. Piper Sandler cut shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price target on the stock. in a research note on Tuesday, January 30th. JPMorgan Chase & Co. boosted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays boosted their target price on shares of IDEXX Laboratories from $605.00 to $655.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Finally, The Goldman Sachs Group boosted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 17th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $591.50.

IDEXX Laboratories Trading Up 2.1 %

NASDAQ:IDXX traded up $10.06 during mid-day trading on Friday, hitting $499.30. 529,811 shares of the stock traded hands, compared to its average volume of 431,856. The stock has a market capitalization of $41.47 billion, a price-to-earnings ratio of 49.58, a PEG ratio of 3.81 and a beta of 1.26. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The firm’s 50 day moving average is $531.02 and its two-hundred day moving average is $510.75. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.42.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Monday, February 5th. The company reported $2.32 EPS for the quarter, beating the consensus estimate of $2.12 by $0.20. The company had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.08% and a return on equity of 71.66%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

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.