Apollon Wealth Management LLC Increases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Apollon Wealth Management LLC raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,116 shares of the company’s stock after acquiring an additional 1,585 shares during the period. Apollon Wealth Management LLC’s holdings in IDEXX Laboratories were worth $3,395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blair William & Co. IL increased its position in IDEXX Laboratories by 0.7% during the third quarter. Blair William & Co. IL now owns 1,199,945 shares of the company’s stock valued at $524,700,000 after acquiring an additional 7,812 shares during the last quarter. Morgan Stanley increased its position in shares of IDEXX Laboratories by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after purchasing an additional 48,095 shares during the last quarter. Northern Trust Corp lifted its stake in shares of IDEXX Laboratories by 7.7% in the 3rd quarter. Northern Trust Corp now owns 919,191 shares of the company’s stock worth $401,935,000 after purchasing an additional 65,891 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of IDEXX Laboratories by 1.4% in the third quarter. Principal Financial Group Inc. now owns 815,863 shares of the company’s stock worth $356,753,000 after buying an additional 11,315 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in IDEXX Laboratories by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock valued at $350,373,000 after buying an additional 65,760 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP George Fennell sold 8,198 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president now directly 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 this hyperlink. In other news, CFO Brian P. Mckeon sold 23,326 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 7th. The shares were 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 owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value 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 approximately $3,851,815.44. The disclosure for this sale can be found here. Insiders sold 43,524 shares of company stock valued at $24,871,960 over the last three months. 2.18% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded up $6.81 on Tuesday, reaching $483.68. The company’s stock had a trading volume of 368,074 shares, compared to its average volume of 442,042. The stock’s fifty day simple moving average is $521.43 and its 200-day simple moving average is $513.94. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a market capitalization of $39.95 billion, a price-to-earnings ratio of 46.16, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Monday, February 5th. The company reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million during the quarter, compared to analysts’ expectations of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on IDXX shares. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group lifted their target price on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 17th. Barclays dropped their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a report on Tuesday, February 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $580.88.

IDEXX Laboratories Company 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.