Rathbones Group PLC Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Rathbones Group PLC increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 136,437 shares of the company’s stock after purchasing an additional 25,256 shares during the period. Rathbones Group PLC’s holdings in IDEXX Laboratories were worth $56,409,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. increased its stake in IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock valued at $479,999,000 after purchasing an additional 74,324 shares in the last quarter. Bank of Montreal Can increased its stake in IDEXX Laboratories by 3.9% in the 4th quarter. Bank of Montreal Can now owns 120,276 shares of the company’s stock worth $49,727,000 after buying an additional 4,511 shares in the last quarter. Bell Asset Management Ltd purchased a new stake in IDEXX Laboratories in the 4th quarter worth $4,634,000. Cerity Partners LLC grew its holdings in IDEXX Laboratories by 4.3% during the 4th quarter. Cerity Partners LLC now owns 11,395 shares of the company’s stock valued at $5,073,000 after buying an additional 471 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in IDEXX Laboratories by 3.1% in the fourth quarter. Federated Hermes Inc. now owns 57,979 shares of the company’s stock worth $23,971,000 after purchasing an additional 1,725 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the company’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 directly owns 3,061 shares of the company’s stock, valued at $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. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 4.1 %

NASDAQ IDXX opened at $393.73 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 firm has a market cap of $31.91 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.50. The firm has a 50 day simple moving average of $435.55 and a 200-day simple moving average of $439.31. IDEXX Laboratories, Inc. has a one year low of $365.93 and a one year high of $548.88.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley decreased their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America upped their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $533.75.

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.