Comgest Global Investors S.A.S. Purchases 145,203 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Comgest Global Investors S.A.S. raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 313.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 191,511 shares of the company's stock after buying an additional 145,203 shares during the period. IDEXX Laboratories makes up about 1.3% of Comgest Global Investors S.A.S.'s holdings, making the stock its 19th biggest holding. Comgest Global Investors S.A.S. owned approximately 0.23% of IDEXX Laboratories worth $79,178,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hurley Capital LLC acquired a new position in IDEXX Laboratories in the fourth quarter worth $29,000. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories in the 4th quarter worth about $31,000. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $38,000. Finally, Crews Bank & Trust bought a new position in IDEXX Laboratories in the 4th quarter worth approximately $41,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 2.3 %

NASDAQ:IDXX traded up $9.34 during trading hours on Friday, hitting $411.72. 965,481 shares of the stock traded hands, compared to its average volume of 623,837. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. 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 $33.37 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 3.41 and a beta of 1.50. The firm has a 50 day moving average price of $422.37 and a 200 day moving average price of $431.22.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now directly owns 8,176 shares of the company's stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. 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 the firm's stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now directly owns 3,061 shares in the company, valued at approximately $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.

Analyst Ratings Changes

Several research analysts have recently issued reports on IDXX shares. Stifel Nicolaus decreased their price target 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. Barclays raised their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler upped their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Morgan Stanley lowered their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. Finally, Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.