IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Bought by Bank of Montreal Can

Bank of Montreal Can increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 120,276 shares of the company’s stock after purchasing an additional 4,511 shares during the quarter. Bank of Montreal Can’s holdings in IDEXX Laboratories were worth $49,727,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Geode Capital Management LLC raised its stake in shares of IDEXX Laboratories by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock valued at $948,279,000 after acquiring an additional 37,734 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of IDEXX Laboratories by 2.5% in the third 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 acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at $412,258,000. American Century Companies Inc. raised its stake in shares of IDEXX Laboratories by 30.9% in the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock valued at $334,810,000 after acquiring an additional 191,385 shares in the last quarter. Finally, Amundi raised its stake in shares of 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 acquiring an additional 56,837 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, 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.

IDEXX Laboratories Price Performance

IDXX stock opened at $397.10 on Thursday. The firm has a 50 day moving average of $431.26 and a 200-day moving average of $435.73. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The company has a market cap of $32.18 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 3.41 and a beta of 1.50.

Wall Street Analyst Weigh In

IDXX has been the topic of several analyst reports. Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. 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 report on Tuesday, February 4th. Finally, Barclays increased 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. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $533.75.

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.