SVB Wealth LLC Makes New $999,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

SVB Wealth LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,416 shares of the company’s stock, valued at approximately $999,000.

A number of other institutional investors have also bought and sold shares of the business. Peloton Wealth Strategists purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $232,000. Proficio Capital Partners LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $62,391,000. New York Life Investment Management LLC raised its position in shares of IDEXX Laboratories by 0.6% during the 4th quarter. New York Life Investment Management LLC now owns 12,279 shares of the company’s stock valued at $5,077,000 after buying an additional 77 shares during the period. Sabal Trust CO purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $812,000. Finally, JFG Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at approximately $305,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $437.15 on Tuesday. The company has a fifty day simple moving average of $435.79 and a two-hundred day simple moving average of $450.78. The company has a market cap of $35.55 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $580.18.

Wall Street Analyst Weigh In

IDXX has been the subject of several research reports. 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 report on Monday, February 10th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Barclays lifted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on Monday, February 10th. The shares were 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 $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 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.