Bessemer Group Inc. Buys 216,572 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bessemer Group Inc. lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1,708.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 229,246 shares of the company's stock after purchasing an additional 216,572 shares during the quarter. Bessemer Group Inc. owned 0.28% of IDEXX Laboratories worth $94,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of IDXX. Hurley Capital LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth $29,000. Rialto Wealth Management LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in IDEXX Laboratories during the fourth quarter worth about $38,000. Finally, Crews Bank & Trust acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.84% of the company's stock.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company's 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction 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 position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

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IDEXX Laboratories Stock Down 0.8 %

NASDAQ IDXX traded down $3.08 during trading hours on Tuesday, reaching $401.57. 401,230 shares of the company's stock were exchanged, compared to its average volume of 617,288. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 37.64, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The company's 50-day moving average is $426.75 and its two-hundred day moving average is $432.85. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Analysts Set New Price Targets

A number of brokerages have commented on IDXX. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a report on Monday. Bank of America upped their target price 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. Morgan Stanley dropped their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $523.75.

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.