Wells Fargo & Company MN Has $37.94 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wells Fargo & Company MN lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,759 shares of the company's stock after selling 29,955 shares during the period. Wells Fargo & Company MN owned about 0.11% of IDEXX Laboratories worth $37,937,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IDXX. Cranbrook Wealth Management LLC grew its holdings in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company's stock valued at $158,000 after purchasing an additional 25 shares during the period. Perigon Wealth Management LLC lifted its holdings in IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company's stock valued at $632,000 after purchasing an additional 26 shares in the last quarter. Summit Trail Advisors LLC increased its stake in shares of IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company's stock worth $335,000 after purchasing an additional 26 shares in the last quarter. IFP Advisors Inc raised its position in shares of IDEXX Laboratories by 3.6% during the 4th quarter. IFP Advisors Inc now owns 903 shares of the company's stock worth $373,000 after purchasing an additional 31 shares during the last quarter. Finally, Cardinal Capital Management lifted its stake in IDEXX Laboratories by 0.3% in the 4th quarter. Cardinal Capital Management now owns 13,954 shares of the company's stock valued at $5,769,000 after buying an additional 35 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

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Wall Street Analysts Forecast Growth

Several research analysts recently commented on IDXX shares. 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. Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday. StockNews.com cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, Bank of America boosted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $523.75.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the 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 transaction, the director now owns 3,061 shares of the company's stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % 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.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded down $2.21 during trading on Tuesday, reaching $402.44. 656,837 shares of the company's stock traded hands, compared to its average volume of 618,295. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $548.88. 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 company has a 50 day moving average of $426.75 and a 200-day moving average of $432.85. The stock has a market capitalization of $32.61 billion, a P/E ratio of 37.72, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50.

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.