IDEXX Laboratories, Inc. (NASDAQ:IDXX) Sees Significant Growth in Short Interest

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totalling 1,500,000 shares, a growth of 7.1% from the December 31st total of 1,400,000 shares. Currently, 1.9% of the shares of the stock are short sold. Based on an average daily volume of 645,100 shares, the short-interest ratio is currently 2.3 days.

IDEXX Laboratories Stock Up 11.1 %

Shares of NASDAQ IDXX opened at $469.04 on Tuesday. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $583.39. The stock’s fifty day simple moving average is $424.12 and its two-hundred day simple moving average is $453.55. The stock has a market capitalization of $38.41 billion, a PE ratio of 45.23, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

Hedge Funds Weigh In On IDEXX Laboratories

A number of large investors have recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its position in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after acquiring an additional 96 shares during the last quarter. National Pension Service boosted its position in shares of IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after purchasing an additional 12,647 shares in the last quarter. Insight Wealth Strategies LLC grew its stake in IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after buying an additional 7,041 shares during the last quarter. Larson Financial Group LLC increased its position in IDEXX Laboratories by 17,238.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock valued at $1,139,000 after buying an additional 2,241 shares in the last quarter. Finally, Quest Partners LLC raised its stake in IDEXX Laboratories by 4,059.4% in the third quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock valued at $1,450,000 after buying an additional 2,801 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IDXX has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. Barclays lowered their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $517.29.

About IDEXX Laboratories

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.