Proficio Capital Partners LLC Invests $62.39 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Proficio Capital Partners LLC purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent 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.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Angeles Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 2.4% during 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 during the period. Cranbrook Wealth Management LLC grew its position in IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after buying an additional 25 shares during the period. Perigon Wealth Management LLC grew its position in IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after buying an additional 26 shares during the period. Summit Trail Advisors LLC grew its position in IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after buying an additional 26 shares during the period. Finally, First Horizon Advisors Inc. grew its position in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after buying an additional 27 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Down 3.7 %

IDXX stock opened at $441.03 on Friday. 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 $35.87 billion, a PE ratio of 41.33, a P/E/G ratio of 3.41 and a beta of 1.37. The company’s 50 day simple moving average is $434.82 and its 200-day simple moving average is $451.84. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39.

Wall Street Analyst Weigh In

IDXX has been the topic of several recent analyst reports. Barclays upped their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $533.75.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

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.