Sterling Investment Advisors Ltd. Acquires Shares of 1,100 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sterling Investment Advisors Ltd. acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,100 shares of the company’s stock, valued at approximately $455,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth approximately $37,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Bank of America increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley decreased their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

IDXX opened at $463.66 on Tuesday. The stock has a fifty day moving average of $432.58 and a 200-day moving average of $452.04. The firm has a market capitalization of $37.97 billion, a P/E ratio of 43.45, a PEG ratio of 3.41 and a beta of 1.37. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling

In other news, 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 value of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,330 shares of company stock worth $6,161,276. Corporate insiders own 2.11% of the company’s stock.

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.