Waycross Partners LLC Acquires Shares of 32,438 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Waycross Partners LLC acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 32,438 shares of the company's stock, valued at approximately $13,411,000. IDEXX Laboratories makes up about 1.7% of Waycross Partners LLC's portfolio, making the stock its 27th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Chicago Partners Investment Group LLC raised its stake in IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company's stock valued at $340,000 after buying an additional 96 shares during the last quarter. National Pension Service raised its stake in IDEXX Laboratories by 7.3% during the 3rd quarter. National Pension Service now owns 185,972 shares of the company's stock valued at $93,957,000 after buying an additional 12,647 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock valued at $4,174,000 after buying an additional 7,041 shares during the last quarter. Larson Financial Group LLC raised its stake in IDEXX Laboratories by 17,238.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company's stock valued at $1,139,000 after buying an additional 2,241 shares during the last quarter. Finally, Quest Partners LLC raised its stake in IDEXX Laboratories by 4,059.4% during the 3rd quarter. Quest Partners LLC now owns 2,870 shares of the company's stock valued at $1,450,000 after buying an additional 2,801 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction on Friday, February 7th. The stock was 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 owns 3,061 shares of the company's stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,330 shares of company stock worth $6,161,276. Corporate insiders own 2.11% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a "strong-buy" rating in a research note on Monday, December 2nd. Piper Sandler boosted their target price 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 shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an "outperform" rating and a $500.00 target price for the company. Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, StockNews.com lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

IDXX stock traded up $2.02 during trading on Friday, reaching $454.88. The company's stock had a trading volume of 202,490 shares, compared to its average volume of 689,527. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year 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. The company has a market capitalization of $37.25 billion, a P/E ratio of 42.63, a price-to-earnings-growth ratio of 3.39 and a beta of 1.37. The company's fifty day moving average is $431.50 and its 200-day moving average is $452.42.

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.