TCG Advisory Services LLC Makes New $24.16 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

TCG Advisory Services LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 43,518 shares of the company’s stock, valued at approximately $24,155,000. IDEXX Laboratories makes up 1.6% of TCG Advisory Services LLC’s portfolio, making the stock its 9th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its stake in IDEXX Laboratories by 4.1% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 7,650 shares of the company’s stock valued at $3,345,000 after purchasing an additional 302 shares during the last quarter. Raymond James & Associates grew its holdings in shares of IDEXX Laboratories by 32.7% during the third quarter. Raymond James & Associates now owns 97,994 shares of the company’s stock worth $42,850,000 after buying an additional 24,147 shares in the last quarter. Simon Quick Advisors LLC raised its position in shares of IDEXX Laboratories by 25.0% in the third quarter. Simon Quick Advisors LLC now owns 704 shares of the company’s stock valued at $308,000 after buying an additional 141 shares during the last quarter. Legacy Financial Group LLC purchased a new position in shares of IDEXX Laboratories in the third quarter worth about $125,000. Finally, NorthRock Partners LLC acquired a new position in IDEXX Laboratories during the third quarter worth about $230,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 1.0 %

IDXX traded up $4.78 on Friday, hitting $480.60. The company had a trading volume of 547,954 shares, compared to its average volume of 509,434. The company’s fifty day moving average price is $523.29 and its 200 day moving average price is $512.43. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.17 and a debt-to-equity ratio of 0.40. The firm has a market cap of $39.69 billion, a P/E ratio of 46.52, a PEG ratio of 3.78 and a beta of 1.27.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, February 5th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The business had revenue of $901.60 million for the quarter, compared to the consensus estimate of $891.88 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business’s revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have commented on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Piper Sandler cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $525.00 target price for the company. in a report on Tuesday, January 30th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group boosted their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the company a “buy” rating in a research report on Wednesday, January 17th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $580.88.

Insider Transactions at IDEXX Laboratories

In related news, SVP George Fennell sold 8,198 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $573.87, for a total value of $4,704,586.26. Following the sale, the senior vice president now owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other IDEXX Laboratories news, SVP George Fennell sold 8,198 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $573.87, for a total transaction of $4,704,586.26. Following the sale, the senior vice president now directly owns 6,712 shares in the company, valued at approximately $3,851,815.44. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares of the company’s stock, valued at approximately $16,939,557.18. The disclosure for this sale can be found here. Insiders sold a total of 43,524 shares of company stock worth $24,871,960 over the last ninety days. Company insiders own 2.11% of the company’s stock.

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.