EFG Asset Management Americas Corp. Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

EFG Asset Management Americas Corp. cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 45.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,037 shares of the company’s stock after selling 4,951 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in IDEXX Laboratories were worth $2,496,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IDXX. Cranbrook Wealth Management LLC lifted its holdings in IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares during the last quarter. Perigon Wealth Management LLC lifted its stake 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 valued at $632,000 after buying an additional 26 shares in the last quarter. Summit Trail Advisors LLC boosted its holdings in IDEXX Laboratories by 3.3% in the 4th 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. First Horizon Advisors Inc. grew its stake in IDEXX Laboratories by 4.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after buying an additional 27 shares in the last quarter. Finally, Concurrent Investment Advisors LLC raised its holdings in IDEXX Laboratories by 4.7% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 630 shares of the company’s stock valued at $318,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Bank of America boosted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Piper Sandler lifted their target price 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. Finally, Morgan Stanley decreased their price target 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. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Down 1.9 %

Shares of NASDAQ IDXX opened at $429.03 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $574.94. 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 firm has a fifty day simple moving average of $437.06 and a two-hundred day simple moving average of $450.19. The firm has a market capitalization of $34.89 billion, a PE ratio of 40.21, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37.

Insiders Place Their Bets

In other IDEXX Laboratories news, 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 transaction 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. The trade was a 49.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction 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 owns 8,176 shares in the company, valued at approximately $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. Corporate insiders own 2.11% of the company’s stock.

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.