IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Westpac Banking Corp

Westpac Banking Corp reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 79.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,030 shares of the company's stock after selling 4,100 shares during the quarter. Westpac Banking Corp's holdings in IDEXX Laboratories were worth $426,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of IDXX. Cynosure Group LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth $1,831,000. Cinctive Capital Management LP grew its stake in IDEXX Laboratories by 18.7% during the 4th quarter. Cinctive Capital Management LP now owns 3,942 shares of the company's stock worth $1,630,000 after purchasing an additional 622 shares in the last quarter. Headlands Technologies LLC purchased a new stake in IDEXX Laboratories during the 4th quarter worth about $2,365,000. Boston Family Office LLC raised its position in IDEXX Laboratories by 1.8% in the 4th quarter. Boston Family Office LLC now owns 27,381 shares of the company's stock valued at $11,320,000 after purchasing an additional 473 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock worth $948,279,000 after buying an additional 37,734 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Down 4.9 %

NASDAQ:IDXX traded down $19.64 during mid-day trading on Thursday, hitting $377.46. The company had a trading volume of 470,862 shares, compared to its average volume of 608,875. The firm has a market capitalization of $30.59 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 3.41 and a beta of 1.50. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88. The business has a fifty day simple moving average of $431.26 and a 200-day simple moving average of $435.73.

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Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the company's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction dated 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 transaction, the executive vice president now owns 8,176 shares of the company's stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Analyst Ratings Changes

IDXX has been the topic of several analyst reports. Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a report on Wednesday, January 29th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Friday, April 4th. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Piper Sandler boosted 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, February 10th. Finally, Bank of America boosted 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 issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently 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.