Massachusetts Financial Services Co. MA Lowers Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Massachusetts Financial Services Co. MA decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 96.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,205 shares of the company's stock after selling 392,881 shares during the period. Massachusetts Financial Services Co. MA's holdings in IDEXX Laboratories were worth $5,459,000 at the end of the most recent quarter.

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

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the firm's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the company'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 transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

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Analyst Ratings Changes

Several research firms have issued reports on IDXX. Morgan Stanley cut 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 increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. StockNews.com lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday. Bank of America increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Finally, Piper Sandler raised 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. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Trading Up 2.4 %

Shares of IDXX traded up $9.11 during mid-day trading on Friday, hitting $390.94. 1,329,119 shares of the company's stock traded hands, compared to its average volume of 616,387. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $31.68 billion, a P/E ratio of 36.64, a PEG ratio of 3.41 and a beta of 1.50. The business's 50-day moving average price is $428.03 and its 200-day moving average price is $434.13. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88.

IDEXX Laboratories 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.