Proficio Capital Partners LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Proficio Capital Partners LLC purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 150,906 shares of the company’s stock, valued at approximately $62,391,000. Proficio Capital Partners LLC owned approximately 0.18% of IDEXX Laboratories as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Angeles Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 2.4% in the third quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after acquiring an additional 25 shares in the last quarter. Cranbrook Wealth Management LLC lifted its position in shares of IDEXX Laboratories by 7.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after purchasing an additional 25 shares during the last quarter. Perigon Wealth Management LLC lifted its position in shares of IDEXX Laboratories by 1.8% during the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after purchasing an additional 26 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in shares of IDEXX Laboratories by 4.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after purchasing an additional 27 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction 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 $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $441.03 on Friday. The company has a 50-day simple moving average of $434.82 and a 200-day simple moving average of $451.84. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market capitalization of $35.87 billion, a price-to-earnings ratio of 41.33, a PEG ratio of 3.41 and a beta of 1.37.

Analyst Ratings Changes

Several research firms have recently issued reports on IDXX. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley decreased their price objective 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. Leerink Partners started coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories 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.