Tandem Investment Advisors Inc. Takes $1.60 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tandem Investment Advisors Inc. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,865 shares of the company’s stock, valued at approximately $1,598,000.

Other hedge funds have also bought and sold shares of the company. Angeles Wealth Management LLC lifted its holdings in IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock worth $545,000 after buying an additional 25 shares during the last quarter. Cranbrook Wealth Management LLC raised its position in shares of IDEXX Laboratories by 7.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares in the last quarter. Perigon Wealth Management LLC lifted its stake in IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares during the last quarter. Summit Trail Advisors LLC boosted its holdings in IDEXX Laboratories by 3.3% in the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after purchasing an additional 26 shares during the period. Finally, First Horizon Advisors Inc. boosted its holdings in IDEXX Laboratories by 4.0% in the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after purchasing an additional 27 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

IDXX has been the topic of a number of research reports. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley lowered their target price 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, Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four research 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 company. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $452.89 on Friday. The firm’s 50 day moving average is $431.19 and its two-hundred day moving average is $452.42. The firm has a market capitalization of $37.09 billion, a P/E ratio of 42.45, a PEG ratio of 3.38 and a beta of 1.37. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39.

Insider Buying and Selling

In related 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 value of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 13,330 shares of company stock valued at $6,161,276 in the last three months. 2.11% of the stock is currently owned by corporate insiders.

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.