Rhumbline Advisers Reduces Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Rhumbline Advisers reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 175,970 shares of the company’s stock after selling 6,931 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of IDEXX Laboratories worth $72,753,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Angeles Wealth Management LLC grew its holdings in IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after buying an additional 25 shares in the last quarter. Cranbrook Wealth Management LLC grew its holdings 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 period. Perigon Wealth Management LLC grew its holdings 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 period. Summit Trail Advisors LLC grew its holdings 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 period. Finally, First Horizon Advisors Inc. grew its holdings 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 period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,330 shares of company stock valued at $6,161,276 in the last quarter. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on IDXX shares. Leerink Partners started coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target for the company. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley decreased their target price 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. Finally, Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Price Performance

IDXX stock opened at $444.53 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.03. The firm has a market capitalization of $36.40 billion, a P/E ratio of 41.66, a P/E/G ratio of 3.47 and a beta of 1.37. The business’s 50-day moving average is $430.95 and its two-hundred day moving average is $452.96. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39.

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.