Rathbones Group PLC cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX – Free Report) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 108,872 shares of the company’s stock after selling 8,697 shares during the period. Rathbones Group PLC’s holdings in IDEXX Laboratories were worth $73,655,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Intrust Bank NA increased its holdings in shares of IDEXX Laboratories by 2.5% during the fourth quarter. Intrust Bank NA now owns 1,477 shares of the company’s stock worth $999,000 after buying an additional 36 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of IDEXX Laboratories by 36.7% during the fourth quarter. Banque Cantonale Vaudoise now owns 5,966 shares of the company’s stock worth $4,037,000 after buying an additional 1,603 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of IDEXX Laboratories by 2.9% during the fourth quarter. Cullen Frost Bankers Inc. now owns 3,653 shares of the company’s stock worth $2,471,000 after buying an additional 103 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of IDEXX Laboratories by 1.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 43,384 shares of the company’s stock worth $29,351,000 after buying an additional 687 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of IDEXX Laboratories by 109.2% during the fourth quarter. Larson Financial Group LLC now owns 730 shares of the company’s stock worth $494,000 after buying an additional 381 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.
IDEXX Laboratories Stock Performance
Shares of IDXX opened at $553.58 on Thursday. The company has a current ratio of 1.12, a quick ratio of 0.82 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $43.67 billion, a P/E ratio of 40.76, a price-to-earnings-growth ratio of 3.17 and a beta of 1.58. The firm’s fifty day simple moving average is $568.24 and its two-hundred day simple moving average is $643.82. IDEXX Laboratories, Inc. has a 12 month low of $496.61 and a 12 month high of $769.98.
Wall Street Analysts Forecast Growth
Several brokerages have recently issued reports on IDXX. Weiss Ratings downgraded shares of IDEXX Laboratories from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Citigroup initiated coverage on shares of IDEXX Laboratories in a research note on Wednesday, April 15th. They issued a “neutral” rating and a $650.00 price objective on the stock. BTIG Research reduced their price objective on shares of IDEXX Laboratories from $830.00 to $800.00 and set a “buy” rating on the stock in a research note on Tuesday, February 3rd. Finally, Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $775.00 to $750.00 and set a “neutral” rating on the stock in a research note on Monday, February 9th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $751.00.
Read Our Latest Stock Report on IDEXX Laboratories
Insiders Place Their Bets
In other IDEXX Laboratories news, EVP Nimrata Hunt sold 1,758 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $634.57, for a total transaction of $1,115,574.06. Following the sale, the executive vice president owned 18,141 shares of the company’s stock, valued at approximately $11,511,734.37. This represents a 8.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 23,326 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $657.55, for a total transaction of $15,338,011.30. Following the sale, the chief executive officer directly owned 83,606 shares in the company, valued at $54,975,125.30. This trade represents a 21.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,777 shares of company stock worth $18,235,113 in the last ninety days. Insiders own 0.79% of the company’s stock.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc (NASDAQ: IDXX) is a global developer, manufacturer and provider of diagnostic products and services primarily for the animal health, water testing and food safety markets. Headquartered in Westbrook, Maine, the company supplies in-clinic diagnostic instruments, consumables, reference laboratory testing and practice-management tools that support veterinarians, livestock and dairy producers, and utilities and food producers worldwide.
IDEXX’s product portfolio includes point-of-care tests and immunoassays designed for rapid diagnosis in veterinary clinics, in-clinic chemistry and hematology analyzers, automated urinalysis systems, and digital diagnostic solutions.
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