Merit Financial Group LLC Grows Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Merit Financial Group LLC lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 148.9% during the first quarter, Holdings Channel.com reports. The fund owned 1,894 shares of the company’s stock after acquiring an additional 1,133 shares during the period. Merit Financial Group LLC’s holdings in IDEXX Laboratories were worth $795,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of IDXX. Hurley Capital LLC acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth $30,000. Colonial Trust Co SC lifted its stake in shares of IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock worth $35,000 after buying an additional 39 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at $38,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of IDEXX Laboratories by 540.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company’s stock valued at $40,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 0.5%

Shares of IDXX opened at $524.91 on Monday. The company has a market capitalization of $42.21 billion, a price-to-earnings ratio of 49.19, a PEG ratio of 3.41 and a beta of 1.55. IDEXX Laboratories, Inc. has a 52 week low of $356.14 and a 52 week high of $530.73. The stock’s 50-day moving average price is $460.16 and its 200-day moving average price is $441.03. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, topping the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.71 EPS. On average, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,046 shares of IDEXX Laboratories stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $513.74, for a total value of $537,372.04. Following the completion of the transaction, the director now owns 262 shares of the company’s stock, valued at approximately $134,599.88. The trade was a 79.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.98% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of research reports. Morgan Stanley lifted their price target on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research report on Monday, May 5th. Piper Sandler lifted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Wall Street Zen lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Finally, Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $536.00.

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.