Raymond James Financial Inc. Acquires New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Raymond James Financial Inc. bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, Holdings Channel.com reports. The firm bought 173,890 shares of the company’s stock, valued at approximately $71,893,000.

Other hedge funds have also bought and sold shares of the company. Insight Wealth Strategies LLC lifted its stake in IDEXX Laboratories by 230.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock valued at $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Larson Financial Group LLC lifted its stake in IDEXX Laboratories by 17,238.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock valued at $1,139,000 after purchasing an additional 2,241 shares during the last quarter. Quest Partners LLC lifted its stake in IDEXX Laboratories by 4,059.4% in the 3rd quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock valued at $1,450,000 after purchasing an additional 2,801 shares during the last quarter. Crystal Rock Capital Management lifted its stake in IDEXX Laboratories by 90.0% in the 3rd quarter. Crystal Rock Capital Management now owns 9,005 shares of the company’s stock valued at $4,550,000 after purchasing an additional 4,265 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its stake in IDEXX Laboratories by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 142,628 shares of the company’s stock valued at $72,059,000 after purchasing an additional 4,696 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction 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 transaction, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $430.12 on Monday. The firm has a market cap of $34.98 billion, a price-to-earnings ratio of 40.31, a PEG ratio of 3.41 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $562.25. The company’s fifty day simple moving average is $437.37 and its 200 day simple moving average is $449.09.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IDXX. Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley cut their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Piper Sandler raised their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock 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.