LPL Financial LLC Sells 9,600 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

LPL Financial LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 22.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,537 shares of the company's stock after selling 9,600 shares during the quarter. LPL Financial LLC's holdings in IDEXX Laboratories were worth $13,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rialto Wealth Management LLC bought a new stake in IDEXX Laboratories in the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories during the fourth quarter valued at approximately $38,000. Crews Bank & Trust bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $41,000. Finally, BankPlus Trust Department purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $60,000. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $17.03 during midday trading on Friday, hitting $393.73. 1,635,645 shares of the company traded hands, compared to its average volume of 592,305. The stock has a market cap of $31.91 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. The firm has a 50 day moving average of $436.39 and a 200-day moving average of $441.13. 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 $390.11 and a 52 week high of $548.88.

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Analysts Set New Price Targets

A number of brokerages recently commented on IDXX. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday, March 25th. 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 report on Wednesday, January 29th. Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Finally, Bank of America lifted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of "Moderate Buy" and an average price target of $533.75.

Insider Activity

In related news, 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 value of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business's stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Corporate insiders own 2.11% of the company's stock.

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.