IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in IDEXX Laboratories, Inc. by 23.3% in the first quarter, now owning 6,756 shares valued at approximately $2.84 million.
• IDEXX Laboratories' quarterly earnings showed an EPS of $3.63, surpassing analysts' estimates and reflecting a year-over-year revenue growth of 10.6%.
• Insider transactions included CEO Jonathan Jay Mazelsky selling 29,260 shares for about $18.49 million, reducing his ownership stake by 25.99%.

Townsquare Capital LLC increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 23.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,756 shares of the company's stock after purchasing an additional 1,278 shares during the period. Townsquare Capital LLC's holdings in IDEXX Laboratories were worth $2,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Mutual of America Capital Management LLC raised its holdings in IDEXX Laboratories by 79.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 19,430 shares of the company's stock valued at $8,160,000 after acquiring an additional 8,609 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in IDEXX Laboratories by 3,766.7% in the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock valued at $49,000 after acquiring an additional 113 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new stake in IDEXX Laboratories in the 1st quarter valued at about $229,000. Banque Transatlantique SA acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $2,681,000. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in IDEXX Laboratories by 13.0% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock valued at $10,731,000 after acquiring an additional 2,931 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

IDEXX Laboratories Stock Down 1.5%

IDXX stock traded down $9.97 during midday trading on Thursday, hitting $653.95. The company's stock had a trading volume of 504,662 shares, compared to its average volume of 734,255. The company has a quick ratio of 0.79, a current ratio of 1.11 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $688.12. The firm has a market capitalization of $52.32 billion, a P/E ratio of 54.45, a PEG ratio of 4.22 and a beta of 1.49. The firm has a 50-day simple moving average of $553.29 and a 200-day simple moving average of $483.95.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The company reported $3.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.28 by $0.35. The business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.06 billion. IDEXX Laboratories had a net margin of 24.41% and a return on equity of 64.42%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on IDXX. JPMorgan Chase & Co. raised their price target on shares of IDEXX Laboratories from $550.00 to $675.00 and gave the stock an "overweight" rating in a report on Monday, August 4th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. Morgan Stanley set a $722.00 price target on shares of IDEXX Laboratories and gave the stock an "overweight" rating in a report on Tuesday, August 5th. Piper Sandler restated a "neutral" rating and set a $700.00 price target (up previously from $510.00) on shares of IDEXX Laboratories in a report on Monday. Finally, Stifel Nicolaus set a $640.00 price target on shares of IDEXX Laboratories in a report on Monday, August 4th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $644.67.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP Michael Lane sold 8,411 shares of the business's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $627.74, for a total value of $5,279,921.14. Following the completion of the sale, the executive vice president directly owned 7,132 shares of the company's stock, valued at $4,477,041.68. The trade was a 54.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,770 shares of company stock worth $33,796,794. 0.98% of the stock is currently 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.