Cinctive Capital Management LP Purchases 622 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cinctive Capital Management LP boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 18.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 3,942 shares of the company’s stock after purchasing an additional 622 shares during the period. Cinctive Capital Management LP’s holdings in IDEXX Laboratories were worth $1,630,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth $30,000. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories during the fourth quarter valued at about $31,000. Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth about $38,000. Crews Bank & Trust bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $41,000. Finally, BankPlus Trust Department acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $60,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $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. 2.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on IDXX shares. 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 shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Barclays raised their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Down 3.6 %

Shares of IDXX opened at $410.76 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The stock has a market cap of $33.30 billion, a price-to-earnings ratio of 38.50, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a 50-day moving average price of $436.39 and a two-hundred day moving average price of $441.13. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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.