KFG Wealth Management LLC Invests $538,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KFG Wealth Management LLC purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 969 shares of the company’s stock, valued at approximately $538,000.

Several other hedge funds have also recently modified their holdings of the business. OFI Invest Asset Management purchased a new stake in IDEXX Laboratories during the third quarter valued at approximately $25,000. Valley National Advisers Inc. raised its holdings in shares of IDEXX Laboratories by 84.6% in the fourth 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 last quarter. Altshuler Shaham Ltd purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth $26,000. Geo Capital Gestora de Recursos Ltd purchased a new position in shares of IDEXX Laboratories in the third quarter worth $28,000. Finally, Covestor Ltd raised its holdings in shares of IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX stock traded down $1.44 during midday trading on Friday, hitting $476.35. 568,637 shares of the stock traded hands, compared to its average volume of 429,223. The firm has a market cap of $39.56 billion, a P/E ratio of 47.45, a PEG ratio of 3.68 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.57 and a quick ratio of 1.17. The stock’s fifty day simple moving average is $539.94 and its 200-day simple moving average is $508.49. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.20. The business 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 company’s revenue was up 8.8% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. On average, analysts expect that IDEXX Laboratories, Inc. will post 11.15 earnings per share for the current year.

Analyst Ratings Changes

IDXX has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target 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. Barclays increased 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 reiterated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. The Goldman Sachs Group increased their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research note on Wednesday, January 17th. Finally, Piper Sandler lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 price objective on the stock. in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $591.50.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the completion of the transaction, the senior vice president now directly owns 6,712 shares in the company, valued at $3,851,815.44. The disclosure for this sale can be found here. Insiders have sold a total of 43,524 shares of company stock valued at $24,871,960 over the last ninety days. Corporate 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.