Empowered Funds LLC Acquires 133 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Empowered Funds LLC grew its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,443 shares of the company’s stock after acquiring an additional 133 shares during the quarter. Empowered Funds LLC’s holdings in IDEXX Laboratories were worth $597,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after acquiring an additional 57 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth $31,000. Mowery & Schoenfeld Wealth Management LLC increased its stake in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after acquiring an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in IDEXX Laboratories during the third quarter valued at about $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IDXX shares. Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Bank of America boosted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley reduced 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. Finally, Piper Sandler boosted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $449.06 on Wednesday. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 0.28. The firm has a market cap of $36.77 billion, a P/E ratio of 42.09, a P/E/G ratio of 3.47 and a beta of 1.37. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39. The firm has a 50-day moving average of $430.82 and a 200-day moving average of $452.56.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated Monday, February 10th. The stock was 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. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,330 shares of company stock worth $6,161,276. 2.11% of the stock is currently owned by company insiders.

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.