KLP Kapitalforvaltning AS Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KLP Kapitalforvaltning AS acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 38,400 shares of the company's stock, valued at approximately $15,876,000.

Other institutional investors have also added to or reduced their stakes in the company. Cranbrook Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company's stock valued at $158,000 after purchasing an additional 25 shares in the last quarter. Perigon Wealth Management LLC raised its position in IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company's stock worth $632,000 after buying an additional 26 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock valued at $335,000 after acquiring an additional 26 shares during the period. Brown Brothers Harriman & Co. boosted its holdings in shares of IDEXX Laboratories by 4.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company's stock valued at $375,000 after acquiring an additional 31 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of IDEXX Laboratories by 3.6% in the fourth quarter. IFP Advisors Inc now owns 903 shares of the company's stock worth $373,000 after acquiring an additional 31 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other news, EVP George Fennell sold 9,986 shares of the business's stock in a transaction 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 transaction, the executive vice president now owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the firm's stock in a transaction 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 of the company's stock, 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. Company insiders own 2.11% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on IDXX shares. Barclays increased 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. StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Tuesday. Morgan Stanley cut their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an "outperform" rating and a $500.00 target price on the stock. Finally, Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $6.67 during mid-day trading on Friday, reaching $415.87. The stock had a trading volume of 470,167 shares, compared to its average volume of 581,913. The business has a fifty day moving average of $437.07 and a 200 day moving average of $443.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market cap of $33.71 billion, a price-to-earnings ratio of 38.98, 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.

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.