IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 149,574 shares of the company's stock after selling 43,142 shares during the period. Envestnet Asset Management Inc. owned approximately 0.18% of IDEXX Laboratories worth $61,840,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IDXX. Insight Wealth Strategies LLC boosted its holdings in IDEXX Laboratories by 230.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock valued at $4,174,000 after purchasing an additional 7,041 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDEXX Laboratories by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock valued at $1,138,732,000 after buying an additional 40,349 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at approximately $1,263,000. Sax Wealth Advisors LLC grew its holdings in IDEXX Laboratories by 76.3% during the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock worth $590,000 after acquiring an additional 617 shares during the period. Finally, Hantz Financial Services Inc. raised its position in IDEXX Laboratories by 11.5% in the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock worth $3,199,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have commented on IDXX. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Piper Sandler boosted their price objective on shares of 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 increased 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. StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Stifel Nicolaus lowered their price target on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a report on Monday. Four 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, the stock has an average rating of "Moderate Buy" and a consensus price target of $523.75.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 8,176 shares of the company's stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, the director now directly owns 3,061 shares of the company's stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock traded down $2.10 during trading on Tuesday, hitting $402.55. 245,545 shares of the company were exchanged, compared to its average volume of 616,695. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. 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 firm has a 50 day moving average price of $426.75 and a 200 day moving average price of $432.85. The stock has a market capitalization of $32.62 billion, a price-to-earnings ratio of 37.73, a P/E/G ratio of 3.41 and a beta of 1.50.

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.