Davis R M Inc. Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Davis R M Inc. reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 0.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,695 shares of the company's stock after selling 683 shares during the quarter. Davis R M Inc. owned approximately 0.13% of IDEXX Laboratories worth $42,458,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in IDEXX Laboratories by 7.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,748 shares of the company's stock valued at $7,338,000 after buying an additional 1,286 shares during the last quarter. NBT Bank N A NY raised its stake in IDEXX Laboratories by 4,583.3% in the fourth quarter. NBT Bank N A NY now owns 562 shares of the company's stock valued at $232,000 after buying an additional 550 shares during the last quarter. AlphaQuest LLC raised its stake in IDEXX Laboratories by 33.6% in the fourth quarter. AlphaQuest LLC now owns 3,833 shares of the company's stock valued at $1,585,000 after buying an additional 963 shares during the last quarter. LGT Capital Partners LTD. raised its stake in IDEXX Laboratories by 3.5% in the fourth quarter. LGT Capital Partners LTD. now owns 143,298 shares of the company's stock valued at $59,245,000 after buying an additional 4,823 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new stake in IDEXX Laboratories in the fourth quarter valued at about $1,891,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on IDXX shares. Barclays increased their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, March 7th. Morgan Stanley reduced 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. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $533.75.

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Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction that occurred on Monday, February 10th. The stock was 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 directly 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the firm'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 value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.18% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock traded up $9.01 during midday trading on Friday, hitting $415.30. 645,193 shares of the company were exchanged, compared to its average volume of 549,851. The firm has a market capitalization of $33.78 billion, a PE ratio of 38.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $548.88. The business has a fifty day simple moving average of $438.04 and a two-hundred day simple moving average of $447.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

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.