Brasada Capital Management LP Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Brasada Capital Management LP raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 23.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,523 shares of the company's stock after buying an additional 5,636 shares during the quarter. IDEXX Laboratories comprises approximately 2.2% of Brasada Capital Management LP's portfolio, making the stock its 12th biggest position. Brasada Capital Management LP's holdings in IDEXX Laboratories were worth $12,477,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in IDEXX Laboratories during the fourth quarter worth about $412,258,000. Flossbach Von Storch SE increased its stake in shares of IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock valued at $195,696,000 after purchasing an additional 464,791 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after purchasing an additional 369,471 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock worth $179,867,000 after purchasing an additional 316,048 shares in the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $113,104,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded down $3.54 during trading hours on Friday, reaching $437.44. The company had a trading volume of 939,265 shares, compared to its average volume of 632,645. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The business has a fifty day moving average price of $419.93 and a 200-day moving average price of $429.42. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The firm has a market cap of $35.45 billion, a PE ratio of 41.00, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent research reports. Stifel Nicolaus lowered their price objective on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Morgan Stanley lowered 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. Bank of America increased their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Piper Sandler lifted their target price 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. Finally, StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $523.75.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction 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 completion of 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 position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Company 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.