Parnassus Investments LLC Sells 636 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Parnassus Investments LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,347 shares of the company's stock after selling 636 shares during the quarter. Parnassus Investments LLC owned approximately 0.06% of IDEXX Laboratories worth $19,989,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the third quarter valued at $25,000. Rialto Wealth Management LLC bought a new stake in IDEXX Laboratories during the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories in the 3rd quarter valued at about $37,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $38,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 0.7 %

IDXX stock traded down $2.84 during mid-day trading on Tuesday, hitting $419.52. 463,843 shares of the company were exchanged, compared to its average volume of 548,750. 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 1-year low of $398.50 and a 1-year high of $548.88. The firm's 50 day simple moving average is $437.89 and its 200 day simple moving average is $446.30. The firm has a market cap of $34.12 billion, a P/E ratio of 39.32, a P/E/G ratio of 3.41 and a beta of 1.39.

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Analysts Set New Price Targets

A number of equities analysts have issued reports on IDXX shares. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Leerink Partners assumed coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 price objective for the company. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. StockNews.com lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a research report on Monday, December 2nd. Four equities research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $533.75.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 trade represents 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 IDEXX Laboratories stock in a transaction that occurred on 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 approximately $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.

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.