Tsai Capital Corp Acquires 3,016 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tsai Capital Corp grew its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 52.2% in the 4th quarter, HoldingsChannel reports. 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 investment portfolio, making the stock its 12th biggest holding. Tsai Capital Corp’s holdings in IDEXX Laboratories were worth $3,637,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cerity Partners LLC grew its holdings in shares of IDEXX Laboratories by 25.2% during the 3rd quarter. Cerity Partners LLC now owns 10,924 shares of the company’s stock worth $5,519,000 after acquiring an additional 2,202 shares during the period. Kingsview Wealth Management LLC purchased a new stake in IDEXX Laboratories in the third quarter worth $507,000. Centaurus Financial Inc. purchased a new stake in IDEXX Laboratories in the third quarter worth $115,000. FMR LLC raised its holdings in IDEXX Laboratories by 3.6% in the third quarter. FMR LLC now owns 290,861 shares of the company’s stock worth $146,949,000 after purchasing an additional 10,017 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its position in IDEXX Laboratories by 9.5% during the third quarter. D.A. Davidson & CO. now owns 1,629 shares of the company’s stock valued at $823,000 after buying an additional 142 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $415.87 on Friday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88. The business has a fifty day moving average of $437.07 and a 200 day moving average of $443.27. 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 firm has a market capitalization of $33.71 billion, a P/E ratio of 38.98, a PEG ratio of 3.41 and a beta of 1.39.

Insider Activity

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several research reports. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler upped their price target on 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 IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Finally, Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Company 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.