Iron Triangle Partners LP Takes $42.20 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Iron Triangle Partners LP purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXXFree Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 76,025 shares of the company’s stock, valued at approximately $42,198,000. IDEXX Laboratories comprises about 5.5% of Iron Triangle Partners LP’s investment portfolio, making the stock its 5th biggest holding.

Other hedge funds have also modified their holdings of the company. Valley National Advisers Inc. grew its stake in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories in the third quarter valued at approximately $28,000. Covestor Ltd boosted its stake in IDEXX Laboratories by 71.8% in the third quarter. Covestor Ltd now owns 67 shares of the company’s stock valued at $29,000 after acquiring an additional 28 shares during the last quarter. DSM Capital Partners LLC bought a new position in IDEXX Laboratories in the fourth quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC boosted its stake in IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after acquiring an additional 43 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Up 1.5 %

Shares of NASDAQ:IDXX traded up $7.52 during midday trading on Wednesday, reaching $513.72. 211,689 shares of the company were exchanged, compared to its average volume of 457,854. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $502.27 and a two-hundred day simple moving average of $527.55. The firm has a market cap of $42.43 billion, a PE ratio of 49.00, a P/E/G ratio of 4.15 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The business had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the sale, the director now directly owns 161 shares in the company, valued at $87,068.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IDXX shares. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Finally, Barclays cut their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $580.38.

View Our Latest Research 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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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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