Rhumbline Advisers Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Rhumbline Advisers decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 175,970 shares of the company's stock after selling 6,931 shares during the quarter. Rhumbline Advisers owned about 0.21% of IDEXX Laboratories worth $72,753,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Adell Harriman & Carpenter Inc. purchased a new stake in IDEXX Laboratories during the fourth quarter worth about $413,000. V Square Quantitative Management LLC lifted its position in shares of IDEXX Laboratories by 6.2% during the 4th quarter. V Square Quantitative Management LLC now owns 2,076 shares of the company's stock valued at $858,000 after acquiring an additional 121 shares during the period. CFC Planning Co LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $487,000. Vontobel Holding Ltd. increased its stake in IDEXX Laboratories by 90.1% in the 4th quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company's stock valued at $173,051,000 after purchasing an additional 198,404 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in IDEXX Laboratories by 6.1% during the fourth quarter. Asset Management One Co. Ltd. now owns 52,844 shares of the company's stock worth $21,927,000 after purchasing an additional 3,057 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IDXX. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an "outperform" rating and a $500.00 target price for the company. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Leerink Partnrs raised IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $533.75.

IDEXX Laboratories Trading Up 0.4 %

Shares of IDXX stock traded up $1.90 during mid-day trading on Thursday, hitting $452.89. 615,712 shares of the company's stock were exchanged, compared to its average volume of 704,594. The stock has a market cap of $37.09 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 3.38 and a beta of 1.37. The stock has a 50-day simple moving average of $431.19 and a two-hundred day simple moving average of $452.42. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of the company's stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction 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 represents a 49.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,330 shares of company stock valued at $6,161,276. 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.