ExodusPoint Capital Management LP Purchases New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ExodusPoint Capital Management LP bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 55,793 shares of the company's stock, valued at approximately $23,067,000. ExodusPoint Capital Management LP owned about 0.07% of IDEXX Laboratories as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of IDEXX Laboratories by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after purchasing an additional 37,734 shares during the last quarter. Franklin Resources Inc. grew 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 buying an additional 34,305 shares during the period. Norges Bank acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $412,258,000. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 30.9% in the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock worth $334,810,000 after purchasing an additional 191,385 shares during the period. Finally, Amundi increased its position in shares of IDEXX Laboratories by 8.1% in the 4th quarter. Amundi now owns 758,669 shares of the company's stock valued at $328,018,000 after buying an additional 56,837 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

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Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction 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 transaction, the director now owns 3,061 shares of the company's stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the company's stock in a transaction on 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 owns 8,176 shares of the company's stock, 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. Company insiders own 2.11% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on IDXX. Piper Sandler lifted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. 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. StockNews.com raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday. Morgan Stanley reduced their price target 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, Bank of America boosted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $533.75.

IDEXX Laboratories Stock Up 0.4 %

IDXX stock traded up $1.40 during mid-day trading on Tuesday, reaching $380.39. 322,647 shares of the company traded hands, compared to its average volume of 596,768. The stock has a market cap of $30.83 billion, a price-to-earnings ratio of 35.78, 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. IDEXX Laboratories, Inc. has a fifty-two week low of $366.50 and a fifty-two week high of $548.88. The firm's 50 day moving average price is $434.58 and its 200 day moving average price is $438.33.

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.