Freestone Grove Partners LP Takes $22.58 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Freestone Grove Partners LP acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 54,604 shares of the company’s stock, valued at approximately $22,575,000. Freestone Grove Partners LP owned 0.07% of IDEXX Laboratories at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tidal Investments LLC lifted its holdings in shares of IDEXX Laboratories by 7.6% in the 3rd quarter. Tidal Investments LLC now owns 6,310 shares of the company’s stock valued at $3,188,000 after buying an additional 444 shares during the period. Franklin Resources Inc. boosted its position in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares in the last quarter. American Trust purchased a new stake in IDEXX Laboratories in the 3rd quarter worth approximately $757,000. Oddo BHF Asset Management Sas acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth approximately $1,128,000. Finally, GAMMA Investing LLC increased its holdings in shares of IDEXX Laboratories by 3.3% during the 4th quarter. GAMMA Investing LLC now owns 1,533 shares of the company’s stock valued at $634,000 after purchasing an additional 49 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.98% of the company’s stock.

IDEXX Laboratories Trading Up 9.0 %

Shares of IDXX stock opened at $471.38 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. The firm has a market capitalization of $38.20 billion, a P/E ratio of 44.18, a PEG ratio of 3.41 and a beta of 1.50. The stock’s fifty day moving average is $419.02 and its two-hundred day moving average is $428.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping analysts’ consensus estimates of $2.93 by $0.03. The firm had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. IDEXX Laboratories’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.71 earnings per share. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have weighed in on IDXX. Morgan Stanley cut their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Bank of America upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $523.75.

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.