Congress Asset Management Co. Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Congress Asset Management Co. trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 29.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,932 shares of the company's stock after selling 1,236 shares during the period. Congress Asset Management Co.'s holdings in IDEXX Laboratories were worth $1,212,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in shares of IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company's stock valued at $2,669,890,000 after purchasing an additional 527,460 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in IDEXX Laboratories by 265.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company's stock valued at $179,867,000 after buying an additional 316,048 shares during the period. Seilern Investment Management Ltd acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $113,104,000. Vontobel Holding Ltd. lifted its holdings in shares of IDEXX Laboratories by 90.1% during the 4th quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company's stock worth $173,051,000 after acquiring an additional 198,404 shares during the period. Finally, Worldquant Millennium Advisors LLC boosted its position in shares of IDEXX Laboratories by 230.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 110,196 shares of the company's stock valued at $55,673,000 after acquiring an additional 76,809 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IDXX. Leerink Partnrs raised shares of IDEXX Laboratories to a "strong-buy" rating in a research report on Monday, December 2nd. Barclays raised their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Bank of America upped their price target on 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 price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Trading Up 0.7 %

Shares of IDXX traded up $3.18 during mid-day trading on Friday, reaching $456.04. 147,596 shares of the company were exchanged, compared to its average volume of 688,096. The stock has a market capitalization of $37.35 billion, a PE ratio of 42.74, a PEG ratio of 3.39 and a beta of 1.37. The business has a 50 day simple moving average of $431.50 and a two-hundred day simple moving average of $452.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred 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 in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,330 shares of company stock worth $6,161,276. 2.11% of the stock is owned by corporate insiders.

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.