OFI Invest Asset Management Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

OFI Invest Asset Management bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,735 shares of the company’s stock, valued at approximately $1,891,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC boosted 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 buying an additional 25 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in 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 acquiring an additional 26 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after acquiring an additional 26 shares in the last quarter. First Horizon Advisors Inc. increased its position 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 valued at $356,000 after purchasing an additional 27 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in shares of 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 purchasing an additional 28 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on IDXX. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley decreased their price target 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, StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday. 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Trading Up 0.3 %

NASDAQ IDXX opened at $430.12 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The stock’s 50 day moving average is $437.37 and its 200 day moving average is $449.09. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $562.25. The firm has a market capitalization of $34.98 billion, a PE ratio of 40.31, a P/E/G ratio of 3.41 and a beta of 1.39.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

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.