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

Freestone Grove Partners LP acquired a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 54,604 shares of the company’s stock, valued at approximately $22,575,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. United Capital Financial Advisors LLC increased its position in shares of IDEXX Laboratories by 0.9% during the fourth quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company’s stock valued at $1,011,000 after acquiring an additional 22 shares during the last quarter. Cranbrook Wealth Management LLC increased its holdings in IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares during the last quarter. Gabelli Funds LLC raised its position in IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company’s stock valued at $207,000 after purchasing an additional 25 shares during the period. Perigon Wealth Management LLC lifted its stake in IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares in the last quarter. Finally, Summit Trail Advisors LLC boosted its position in shares of IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after buying an additional 26 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $471.38 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $548.88. The firm has a market capitalization of $38.20 billion, a price-to-earnings ratio of 44.18, a PEG ratio of 3.41 and a beta of 1.50. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm’s fifty day simple moving average is $419.02 and its 200-day simple moving average is $428.54.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on IDXX shares. Barclays boosted 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. Morgan Stanley reduced their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $523.75.

Insider Buying and Selling

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

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.