Wellington Management Group LLP Raises Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wellington Management Group LLP increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 161.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 195,369 shares of the company's stock after buying an additional 120,558 shares during the quarter. Wellington Management Group LLP owned 0.24% of IDEXX Laboratories worth $80,773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of IDXX. Geode Capital Management LLC increased its holdings in IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock valued at $1,138,732,000 after purchasing an additional 40,349 shares during the period. Franklin Resources Inc. raised its holdings in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company's stock worth $675,259,000 after acquiring an additional 34,305 shares during the last quarter. Norges Bank purchased a new position in IDEXX Laboratories in the 4th quarter worth approximately $412,258,000. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 30.9% in the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock worth $334,810,000 after acquiring an additional 191,385 shares during the last quarter. Finally, Amundi raised its stake in IDEXX Laboratories by 8.1% during the 4th quarter. Amundi now owns 758,669 shares of the company's stock valued at $328,018,000 after buying an additional 56,837 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

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IDEXX Laboratories Stock Down 5.2 %

Shares of NASDAQ IDXX traded down $20.66 during midday trading on Thursday, reaching $376.44. 206,569 shares of the company's stock traded hands, compared to its average volume of 607,907. 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 stock's 50 day simple moving average is $431.26 and its 200-day simple moving average is $435.73. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $548.88. The company has a market cap of $30.51 billion, a price-to-earnings ratio of 35.57, a P/E/G ratio of 3.41 and a beta of 1.50.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several analyst reports. StockNews.com upgraded IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Barclays increased 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. Finally, Bank of America increased their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Three 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. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $533.75.

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.