Capital Research Global Investors Boosts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Capital Research Global Investors raised its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 44.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 615,996 shares of the company’s stock after buying an additional 189,436 shares during the period. Capital Research Global Investors owned about 0.75% of IDEXX Laboratories worth $254,677,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $38,000. Finally, Crews Bank & Trust purchased a new stake in IDEXX Laboratories during the fourth quarter worth $41,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IDXX. 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 report on Tuesday, February 4th. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Stifel Nicolaus cut their price objective on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research report on Monday, April 14th. Finally, Piper Sandler upped 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. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.75.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $411.72 on Friday. 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 1 year low of $356.14 and a 1 year high of $548.88. The firm has a market capitalization of $33.37 billion, a PE ratio of 38.59, a P/E/G ratio of 3.41 and a beta of 1.50. The business’s 50 day moving average price is $422.37 and its 200-day moving average price is $430.84.

IDEXX Laboratories Company 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.