Bridgefront Capital LLC Purchases Shares of 1,025 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bridgefront Capital LLC acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,025 shares of the company’s stock, valued at approximately $424,000.

Other large investors have also modified their holdings of the company. Captrust Financial Advisors lifted its position in IDEXX Laboratories by 22.7% during the 4th quarter. Captrust Financial Advisors now owns 5,825 shares of the company’s stock worth $2,408,000 after acquiring an additional 1,078 shares during the last quarter. Balyasny Asset Management L.P. grew its holdings in IDEXX Laboratories by 230.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 2,455 shares of the company’s stock valued at $1,015,000 after buying an additional 1,712 shares during the last quarter. Bamco Inc. NY increased its position in IDEXX Laboratories by 4.3% in the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after buying an additional 82,264 shares during the period. Banque Transatlantique SA acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $2,681,000. Finally, Benjamin Edwards Inc. increased its position in IDEXX Laboratories by 77.5% during the fourth quarter. Benjamin Edwards Inc. now owns 3,337 shares of the company’s stock worth $1,380,000 after acquiring an additional 1,457 shares during the period. 87.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Morgan Stanley raised their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, April 12th. Piper Sandler raised their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Bank of America upped their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $524.75.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $473.71 on Wednesday. The stock has a market capitalization of $38.39 billion, a P/E ratio of 44.40, a price-to-earnings-growth ratio of 3.41 and a beta of 1.52. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88. The firm has a 50 day moving average of $420.26 and a 200-day moving average of $428.49.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $2.71 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the company’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 $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was 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 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.