Commerce Bank Raises Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Commerce Bank raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,388 shares of the company's stock after purchasing an additional 808 shares during the quarter. Commerce Bank's holdings in IDEXX Laboratories were worth $5,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC increased its stake in IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after acquiring an additional 37,734 shares during the last quarter. Franklin Resources Inc. increased its position in shares of IDEXX Laboratories by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company's stock worth $675,259,000 after purchasing an additional 34,305 shares during the last quarter. Invesco Ltd. raised its holdings in IDEXX Laboratories by 6.8% in the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock valued at $479,999,000 after buying an additional 74,324 shares during the period. Norges Bank acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $412,258,000. Finally, American Century Companies Inc. boosted its stake in IDEXX Laboratories by 30.9% during the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock worth $334,810,000 after buying an additional 191,385 shares during the period. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a report on Monday, April 14th. Morgan Stanley dropped their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Piper Sandler upped their target price 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. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $523.75.

IDEXX Laboratories Stock Up 1.2 %

IDEXX Laboratories stock traded up $5.04 during midday trading on Wednesday, reaching $426.63. The company's stock had a trading volume of 1,091,402 shares, compared to its average volume of 629,025. The company has a market cap of $34.57 billion, a P/E ratio of 39.98, a P/E/G 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. The business has a 50-day simple moving average of $420.59 and a 200-day simple moving average of $429.92. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction that occurred 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories 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.