Bank of Montreal Can Purchases 4,511 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank of Montreal Can lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 120,276 shares of the company's stock after purchasing an additional 4,511 shares during the period. Bank of Montreal Can owned 0.15% of IDEXX Laboratories worth $49,727,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $412,258,000. Flossbach Von Storch SE grew its position in IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock worth $195,696,000 after buying an additional 464,791 shares in the last quarter. William Blair Investment Management LLC increased its stake in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock worth $174,527,000 after acquiring an additional 369,471 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock valued at $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Finally, Seilern Investment Management Ltd purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth about $113,104,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

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 transaction of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business's stock in a transaction on 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 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 Stock Performance

Shares of IDXX traded down $2.40 during mid-day trading on Tuesday, hitting $402.25. 310,112 shares of the company traded hands, compared to its average volume of 794,353. The stock has a 50-day moving average price of $426.75 and a two-hundred day moving average price of $432.85. The stock has a market cap of $32.60 billion, a price-to-earnings ratio of 37.70, a P/E/G ratio of 3.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IDXX. Stifel Nicolaus decreased their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a report on Monday. Piper Sandler upped 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. Bank of America raised their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday. Finally, Morgan Stanley cut their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and an average target price of $523.75.

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.