Robinson Value Management Ltd. Takes $2.39 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Robinson Value Management Ltd. purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,787 shares of the company's stock, valued at approximately $2,393,000. IDEXX Laboratories makes up approximately 1.6% of Robinson Value Management Ltd.'s investment portfolio, making the stock its 25th biggest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stephens Investment Management Group LLC raised its holdings in IDEXX Laboratories by 3.6% during the 4th quarter. Stephens Investment Management Group LLC now owns 108,649 shares of the company's stock valued at $44,920,000 after buying an additional 3,749 shares during the period. Thompson Investment Management Inc. bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $310,000. Entropy Technologies LP grew its position in shares of IDEXX Laboratories by 69.7% during the 4th quarter. Entropy Technologies LP now owns 5,500 shares of the company's stock worth $2,274,000 after buying an additional 2,259 shares in the last quarter. Empowered Funds LLC increased its position in IDEXX Laboratories by 10.2% during the 4th quarter. Empowered Funds LLC now owns 1,443 shares of the company's stock valued at $597,000 after purchasing an additional 133 shares during the period. Finally, Moloney Securities Asset Management LLC bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $374,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

IDXX traded down $6.39 during midday trading on Wednesday, reaching $457.35. 634,016 shares of the company's stock were exchanged, compared to its average volume of 722,515. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $583.39. The firm has a market capitalization of $37.45 billion, a price-to-earnings ratio of 42.86, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37. The business has a 50-day simple moving average of $429.67 and a two-hundred day simple moving average of $453.23. The company has a quick ratio of 1.03, 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 the business's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Sophie V. Vandebroek sold 344 shares of the firm's stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,330 shares of company stock valued at $6,161,276 over the last ninety days. Insiders own 2.11% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Leerink Partners began 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. StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Bank of America upped their target price 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. Leerink Partnrs raised IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Finally, Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday. Four investment 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 company's stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of "Moderate Buy" and an average target price of $533.75.

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.