IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Cut by LPL Financial LLC

LPL Financial LLC cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 33,537 shares of the company’s stock after selling 9,600 shares during the quarter. LPL Financial LLC’s holdings in IDEXX Laboratories were worth $13,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of IDXX. KLP Kapitalforvaltning AS purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $15,876,000. American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 30.9% during the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock worth $334,810,000 after acquiring an additional 191,385 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in shares of IDEXX Laboratories by 45.4% during the 4th quarter. Mizuho Securities USA LLC now owns 7,761 shares of the company’s stock valued at $3,209,000 after acquiring an additional 2,424 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of IDEXX Laboratories by 1,870.5% in the 4th quarter. Quantbot Technologies LP now owns 13,301 shares of the company’s stock valued at $5,499,000 after acquiring an additional 12,626 shares in the last quarter. Finally, Lee Danner & Bass Inc. acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $486,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on IDXX shares. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Bank of America upped their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Finally, Barclays raised their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Performance

IDXX opened at $426.25 on Thursday. The stock’s 50 day simple moving average is $436.82 and its 200-day simple moving average is $441.34. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a market cap of $34.55 billion, a PE ratio of 39.95, a P/E/G ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $548.88.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the business’s 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 completion of the sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

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.