Tower Research Capital LLC TRC Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tower Research Capital LLC TRC grew its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 132.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,548 shares of the company's stock after acquiring an additional 3,729 shares during the quarter. Tower Research Capital LLC TRC's holdings in IDEXX Laboratories were worth $2,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of IDXX. Insight Wealth Strategies LLC boosted its position in IDEXX Laboratories by 230.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock worth $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Sax Wealth Advisors LLC boosted its holdings in shares of IDEXX Laboratories by 76.3% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock worth $590,000 after buying an additional 617 shares during the last quarter. Hantz Financial Services Inc. grew its position in IDEXX Laboratories by 11.5% during the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock valued at $3,199,000 after buying an additional 800 shares during the period. Paragon Capital Management Inc. increased its holdings in IDEXX Laboratories by 25.7% during the fourth quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock worth $1,579,000 after buying an additional 782 shares during the last quarter. Finally, Manitou Investment Management Ltd. raised its position in IDEXX Laboratories by 491.0% in the fourth quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company's stock worth $21,582,000 after acquiring an additional 43,369 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $3.54 during midday trading on Friday, hitting $437.44. 939,265 shares of the company traded hands, compared to its average volume of 632,646. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The firm has a market cap of $35.45 billion, a P/E ratio of 41.00, a PEG ratio of 3.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock has a 50-day moving average of $419.93 and a 200-day moving average of $429.42.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IDXX shares. Morgan Stanley reduced their target price 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. Stifel Nicolaus decreased their target price on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 4th. Finally, Barclays boosted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $523.75.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the firm'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 directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

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.