Essex Financial Services Inc. Sells 179 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Essex Financial Services Inc. lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,244 shares of the company’s stock after selling 179 shares during the quarter. Essex Financial Services Inc.’s holdings in IDEXX Laboratories were worth $928,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of IDEXX Laboratories by 400.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 500 shares of the company’s stock valued at $253,000 after acquiring an additional 400 shares in the last quarter. Carnegie Investment Counsel purchased a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $205,000. Procyon Advisors LLC increased its holdings in IDEXX Laboratories by 2.2% during the third quarter. Procyon Advisors LLC now owns 1,544 shares of the company’s stock valued at $780,000 after buying an additional 33 shares during the period. Creative Planning raised its stake in IDEXX Laboratories by 2.6% in the third quarter. Creative Planning now owns 24,436 shares of the company’s stock worth $12,346,000 after buying an additional 614 shares in the last quarter. Finally, RDA Financial Network boosted its position in IDEXX Laboratories by 25.2% during the 3rd quarter. RDA Financial Network now owns 1,771 shares of the company’s stock valued at $895,000 after acquiring an additional 357 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Piper Sandler increased their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insider Transactions at IDEXX Laboratories

In related news, 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 transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,330 shares of company stock worth $6,161,276. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 0.3 %

IDXX stock opened at $463.74 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The stock has a market capitalization of $37.98 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37. The firm has a 50 day moving average of $429.03 and a 200 day moving average of $453.28.

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.