TCG Advisory Services LLC Acquires New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

TCG Advisory Services LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 43,518 shares of the company’s stock, valued at approximately $24,155,000. IDEXX Laboratories makes up approximately 1.6% of TCG Advisory Services LLC’s investment portfolio, making the stock its 9th largest holding. TCG Advisory Services LLC owned about 0.05% of IDEXX Laboratories as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts recently issued reports on IDXX shares. The Goldman Sachs Group boosted their target price 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. JPMorgan Chase & Co. upped their price objective on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 6th. Barclays lowered their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $580.88.

Insider Buying and Selling

In other news, CEO Jonathan Jay Mazelsky sold 12,000 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $572.61, for a total transaction of $6,871,320.00. Following the completion of the transaction, the chief executive officer now directly owns 79,247 shares in the company, valued at approximately $45,377,624.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other IDEXX Laboratories news, CFO Brian P. Mckeon sold 23,326 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the completion of the sale, the chief executive officer now directly owns 79,247 shares of the company’s stock, valued at $45,377,624.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,524 shares of company stock worth $24,871,960. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock traded up $4.78 during midday trading on Friday, hitting $480.60. The company’s stock had a trading volume of 547,954 shares, compared to its average volume of 509,434. The firm has a market capitalization of $39.69 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. The company has a quick ratio of 1.17, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The company has a 50 day moving average of $523.29 and a two-hundred day moving average of $512.43.

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

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.