Howe & Rusling Inc. Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Howe & Rusling Inc. acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,931 shares of the company's stock, valued at approximately $2,866,000.

Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories during the 3rd quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth $31,000. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories during the fourth quarter valued at $38,000. Finally, Crews Bank & Trust purchased a new stake in IDEXX Laboratories in the fourth quarter valued at $41,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IDXX. 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. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price target for the company. Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a research report on Monday, December 2nd. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Tuesday, March 25th. Finally, 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 report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $533.75.

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IDEXX Laboratories Price Performance

NASDAQ:IDXX traded down $0.71 during trading hours on Monday, reaching $415.16. 236,374 shares of the company were exchanged, compared to its average volume of 580,561. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The firm has a market cap of $33.65 billion, a PE ratio of 38.93, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88. The stock's 50-day moving average is $437.07 and its 200-day moving average is $442.57.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on 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 sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $4,618,824.58. Following the completion of the transaction, the executive vice president now directly owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% 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.