Intech Investment Management LLC Purchases 4,000 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Intech Investment Management LLC grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 165.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,421 shares of the company's stock after purchasing an additional 4,000 shares during the quarter. Intech Investment Management LLC's holdings in IDEXX Laboratories were worth $2,655,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Insight Wealth Strategies LLC grew its holdings in IDEXX Laboratories by 230.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock valued at $4,174,000 after purchasing an additional 7,041 shares during the period. Larson Financial Group LLC raised its position in shares of IDEXX Laboratories by 17,238.5% during the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company's stock worth $1,139,000 after purchasing an additional 2,241 shares during the period. Quest Partners LLC grew its position in shares of IDEXX Laboratories by 4,059.4% in the 3rd quarter. Quest Partners LLC now owns 2,870 shares of the company's stock valued at $1,450,000 after purchasing an additional 2,801 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in IDEXX Laboratories during the 3rd quarter worth approximately $749,000. Finally, Geode Capital Management LLC raised its holdings in IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock worth $1,138,732,000 after buying an additional 40,349 shares during the period. Institutional investors own 87.84% of the company's stock.

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Analysts Set New Price Targets

IDXX has been the topic of a number of research analyst reports. Bank of America raised their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Leerink Partnrs upgraded IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday, March 15th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Stock Up 0.6 %

Shares of NASDAQ:IDXX traded up $2.61 during midday trading on Monday, hitting $423.60. The stock had a trading volume of 616,827 shares, compared to its average volume of 552,334. The company has a market cap of $34.34 billion, a P/E ratio of 39.70, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The business's 50-day simple moving average is $437.36 and its 200-day simple moving average is $444.76. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling

In other news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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. The trade was a 54.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction that occurred on 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 transaction, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently 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.