Tsai Capital Corp Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tsai Capital Corp grew its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 52.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,797 shares of the company's stock after acquiring an additional 3,016 shares during the period. IDEXX Laboratories accounts for approximately 2.6% of Tsai Capital Corp's portfolio, making the stock its 12th largest holding. Tsai Capital Corp's holdings in IDEXX Laboratories were worth $3,637,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in IDXX. Norges Bank bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. Flossbach Von Storch SE grew its position in shares of IDEXX Laboratories by 5,439.3% during the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock valued at $195,696,000 after purchasing an additional 464,791 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock worth $174,527,000 after purchasing an additional 369,471 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock worth $179,867,000 after purchasing an additional 316,048 shares during the period. Finally, Seilern Investment Management Ltd purchased a new stake in shares of IDEXX Laboratories in the fourth quarter worth $113,104,000. 87.84% of the stock is owned by institutional investors.

Remove Ads

IDEXX Laboratories Trading Up 1.4 %

NASDAQ:IDXX traded up $5.77 during midday trading on Wednesday, reaching $424.34. 214,272 shares of the stock traded hands, compared to its average volume of 582,727. The stock has a market capitalization of $34.40 billion, a P/E ratio of 39.77, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The company has a fifty day moving average of $436.90 and a 200 day moving average of $441.45.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research analyst reports. Barclays upped 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. StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. Piper Sandler boosted 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. Morgan Stanley lowered their price objective 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. Finally, Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $533.75.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

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.