HM Payson & Co. Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HM Payson & Co. trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,025 shares of the company's stock after selling 1,328 shares during the period. HM Payson & Co.'s holdings in IDEXX Laboratories were worth $9,106,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. raised its position in IDEXX Laboratories by 4.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 42,012 shares of the company's stock worth $17,369,000 after acquiring an additional 1,712 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of IDEXX Laboratories by 7.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 223,841 shares of the company's stock worth $99,130,000 after purchasing an additional 15,565 shares during the period. Machina Capital S.A.S. increased its holdings in shares of IDEXX Laboratories by 134.4% in the 4th quarter. Machina Capital S.A.S. now owns 3,070 shares of the company's stock valued at $1,269,000 after purchasing an additional 1,760 shares in the last quarter. Haven Private LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $835,000. Finally, Andra AP fonden boosted its holdings in IDEXX Laboratories by 17.4% during the fourth quarter. Andra AP fonden now owns 33,700 shares of the company's stock worth $13,933,000 after buying an additional 5,000 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Leerink Partners initiated coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price objective for the company. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday. 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. Finally, Morgan Stanley cut their price target 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. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $533.75.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total value 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. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the business's stock in a transaction dated 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 owns 8,176 shares of the company's stock, valued at $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 Up 0.3 %

IDXX traded up $1.09 during trading on Friday, hitting $430.12. The company's stock had a trading volume of 654,250 shares, compared to its average volume of 542,991. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $562.25. The stock has a market cap of $34.98 billion, a PE ratio of 40.31, a PEG ratio of 3.41 and a beta of 1.39. The firm's 50 day moving average price is $437.37 and its 200-day moving average price is $449.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

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.