CIBC Private Wealth Group LLC Sells 97,450 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

CIBC Private Wealth Group LLC cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 54.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,476 shares of the company's stock after selling 97,450 shares during the period. CIBC Private Wealth Group LLC owned about 0.10% of IDEXX Laboratories worth $34,795,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in IDEXX Laboratories in the third quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories during the 4th quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories during the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

IDXX has been the subject of several analyst reports. StockNews.com raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday. Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Bank of America upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley lowered their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, IDEXX Laboratories currently has an average rating of "Moderate Buy" and a consensus target price of $533.75.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 3,000 shares of the company's 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 transaction, the director now directly owns 3,061 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this link. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 of the company's stock, 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. 2.11% of the stock is owned by insiders.

IDEXX Laboratories Trading Down 4.1 %

Shares of IDEXX Laboratories stock traded down $17.03 on Friday, reaching $393.73. 1,635,645 shares of the company's stock were exchanged, compared to its average volume of 592,302. The firm's 50-day moving average is $435.55 and its two-hundred day moving average is $440.31. The company has a market capitalization of $31.91 billion, a P/E ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. 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 52 week low of $393.50 and a 52 week high of $548.88.

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.