Two Creeks Capital Management LP purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 69,110 shares of the company's stock, valued at approximately $28,573,000. IDEXX Laboratories makes up about 1.7% of Two Creeks Capital Management LP's investment portfolio, making the stock its 19th largest position. Two Creeks Capital Management LP owned 0.08% of IDEXX Laboratories at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. Hurley Capital LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $29,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories during the fourth quarter valued at about $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories during the fourth quarter worth about $38,000. Finally, Crews Bank & Trust bought a new stake in IDEXX Laboratories in the fourth quarter worth about $41,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.
IDEXX Laboratories Price Performance
Shares of NASDAQ:IDXX traded down $3.54 on Friday, hitting $437.44. The company's stock had a trading volume of 939,265 shares, compared to its average volume of 632,645. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company has a market capitalization of $35.45 billion, a PE ratio of 41.00, a PEG ratio of 3.41 and a beta of 1.50. The company has a 50-day simple moving average of $419.93 and a 200 day simple moving average of $429.42.
Insider Buying and Selling at IDEXX Laboratories
In related news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction dated 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 directly owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the company'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 value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares of the company's stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the company. 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. Barclays lifted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. Finally, Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus target price of $523.75.
Read Our Latest Report on IDXX
About IDEXX Laboratories
(
Free Report)
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.
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