Nutshell Asset Management Ltd Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nutshell Asset Management Ltd purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,432 shares of the company's stock, valued at approximately $4,313,000. IDEXX Laboratories makes up about 2.7% of Nutshell Asset Management Ltd's holdings, making the stock its 15th biggest position.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board boosted its stake in shares of IDEXX Laboratories by 16.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 3,578 shares of the company's stock worth $1,808,000 after acquiring an additional 500 shares during the period. Benjamin Edwards Inc. boosted its position in IDEXX Laboratories by 661.1% during the third quarter. Benjamin Edwards Inc. now owns 1,880 shares of the company's stock worth $950,000 after purchasing an additional 1,633 shares during the period. Centiva Capital LP acquired a new position in shares of IDEXX Laboratories in the third quarter valued at $211,000. Janus Henderson Group PLC raised its position in shares of IDEXX Laboratories by 0.4% in the third quarter. Janus Henderson Group PLC now owns 11,834 shares of the company's stock valued at $5,978,000 after purchasing an additional 53 shares during the period. Finally, IHT Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 32.9% during the 3rd quarter. IHT Wealth Management LLC now owns 666 shares of the company's stock worth $335,000 after buying an additional 165 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on IDXX shares. Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Morgan Stanley dropped 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 upped their price target 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. Three 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $533.75.

IDEXX Laboratories Trading Down 3.0 %

NASDAQ IDXX traded down $11.80 on Thursday, reaching $385.30. The company had a trading volume of 706,124 shares, compared to its average volume of 609,815. The firm has a market cap of $31.22 billion, a price-to-earnings ratio of 36.05, a P/E/G ratio of 3.41 and a beta of 1.50. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. The business has a 50 day moving average of $431.26 and a two-hundred day moving average of $435.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Insider Transactions at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the stock in a transaction on 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction on 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 completion of the transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

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.