Freestone Grove Partners LP Buys New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Freestone Grove Partners LP purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 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.

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

Wall Street Analyst Weigh In

A number of brokerages have weighed in on IDXX. Bank of America upped their price objective 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. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Finally, Stifel Nicolaus lowered their price target on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $524.75.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the company'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 in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The shares were 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 owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX traded up $3.17 during trading on Monday, reaching $475.07. 1,208,499 shares of the company traded hands, compared to its average volume of 644,174. The firm has a 50 day simple moving average of $419.26 and a 200-day simple moving average of $428.06. IDEXX Laboratories, Inc. has a 52-week low of $356.14 and a 52-week high of $548.88. The stock has a market capitalization of $38.50 billion, a PE ratio of 44.52, a P/E/G ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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

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.