Lee Danner & Bass Inc. Invests $486,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Lee Danner & Bass Inc. bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,176 shares of the company's stock, valued at approximately $486,000.

Several other large investors have also recently added to or reduced their stakes in IDXX. Empowered Funds LLC grew its stake in shares of IDEXX Laboratories by 2.8% during the 3rd quarter. Empowered Funds LLC now owns 1,310 shares of the company's stock valued at $662,000 after buying an additional 36 shares during the period. PNC Financial Services Group Inc. boosted its holdings in IDEXX Laboratories by 0.5% in the third quarter. PNC Financial Services Group Inc. now owns 40,300 shares of the company's stock valued at $20,360,000 after acquiring an additional 184 shares during the last quarter. Advisors Asset Management Inc. grew its position in IDEXX Laboratories by 4.2% during the third quarter. Advisors Asset Management Inc. now owns 3,265 shares of the company's stock valued at $1,650,000 after acquiring an additional 131 shares during the period. First Horizon Advisors Inc. increased its stake in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company's stock worth $356,000 after acquiring an additional 27 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in shares of IDEXX Laboratories in the 3rd quarter worth about $749,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IDXX shares. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Tuesday. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Barclays increased their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Finally, Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price target for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $533.75.

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IDEXX Laboratories Stock Up 0.0 %

IDEXX Laboratories stock traded up $0.05 during midday trading on Wednesday, hitting $417.71. 760,713 shares of the stock were exchanged, compared to its average volume of 555,046. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $548.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The firm has a market cap of $33.86 billion, a P/E ratio of 39.15, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a 50 day moving average price of $437.36 and a two-hundred day moving average price of $444.05.

Insider Activity

In related news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated Friday, February 7th. The stock was 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 of the company's stock, valued at approximately $1,426,242.34. This 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 link. Also, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The shares were 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 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 position. The disclosure for this sale can be found here. 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.