William Blair Investment Management LLC Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

William Blair Investment Management LLC grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 701.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 422,133 shares of the company’s stock after acquiring an additional 369,471 shares during the quarter. William Blair Investment Management LLC’s holdings in IDEXX Laboratories were worth $174,527,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after acquiring an additional 40,349 shares during the period. Franklin Resources Inc. raised its stake in shares of IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after acquiring an additional 34,305 shares during the period. Amundi raised its stake in shares of IDEXX Laboratories by 8.1% in the fourth quarter. Amundi now owns 758,669 shares of the company’s stock valued at $328,018,000 after acquiring an additional 56,837 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after acquiring an additional 2,463 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in IDEXX Laboratories by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 531,692 shares of the company’s stock worth $219,823,000 after buying an additional 16,213 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the firm’s 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 sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The transaction 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 dated Monday, February 10th. The shares were 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 in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Bank of America raised their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Piper Sandler raised 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. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Morgan Stanley reduced their price target on shares of 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, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Trading Up 2.2 %

NASDAQ IDXX opened at $415.30 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The company’s 50-day simple moving average is $438.03 and its two-hundred day simple moving average is $446.76. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88.

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.