Allstate Corp Invests $1.01 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Allstate Corp bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,440 shares of the company’s stock, valued at approximately $1,009,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its position in IDEXX Laboratories by 1.8% during 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 buying an additional 40,349 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of IDEXX Laboratories by 2.5% during the 3rd 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 in the last quarter. Norges Bank purchased a new stake in IDEXX Laboratories during the 4th quarter worth $412,258,000. American Century Companies Inc. increased its holdings in IDEXX Laboratories by 30.9% in the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock valued at $334,810,000 after purchasing an additional 191,385 shares in the last quarter. Finally, Amundi raised its position in 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 purchasing an additional 56,837 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent research reports. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Barclays lifted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Finally, Morgan Stanley lowered their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. 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 company. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $415.87 on Monday. The stock has a market capitalization of $33.71 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The business’s fifty day moving average price is $437.07 and its 200 day moving average price is $442.57. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $548.88.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated 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 owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents 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 dated 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 completion of the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

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.