Bell Asset Management Ltd Takes $4.63 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bell Asset Management Ltd bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,209 shares of the company's stock, valued at approximately $4,634,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hurley Capital LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at about $29,000. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories in the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories during the 4th quarter worth approximately $31,000. Kestra Investment Management LLC purchased a new position in IDEXX Laboratories during the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded up $9.11 during trading hours on Friday, reaching $390.94. 1,329,119 shares of the company's stock were exchanged, compared to its average volume of 616,387. The business has a fifty day moving average of $428.03 and a two-hundred day moving average of $434.13. The company has a market capitalization of $31.68 billion, a P/E ratio of 36.64, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

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Insiders Place Their Bets

In related 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Corporate insiders own 2.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on IDXX shares. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Bank of America lifted their target price 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. Finally, Morgan Stanley dropped their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $533.75.

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.