TD Asset Management Inc. Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

TD Asset Management Inc. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,805 shares of the company's stock after selling 20,907 shares during the period. TD Asset Management Inc. owned approximately 0.33% of IDEXX Laboratories worth $113,202,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in IDXX. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 3rd quarter worth about $25,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth about $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $38,000. Finally, Crews Bank & Trust bought a new stake in shares of IDEXX Laboratories during the fourth quarter valued at approximately $41,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded down $6.67 during midday trading on Friday, reaching $415.87. 470,167 shares of the company were exchanged, compared to its average volume of 581,913. The stock has a market cap of $33.71 billion, a PE ratio of 38.98, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The business's fifty day moving average is $437.07 and its two-hundred day moving average is $442.90. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year 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.

Remove Ads

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction on 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 completion of the sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Morgan Stanley reduced 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. Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 4th. Piper Sandler increased 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. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a report on Tuesday, February 4th. Finally, Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $533.75.

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.