HighTower Advisors LLC Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HighTower Advisors LLC lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 29,832 shares of the company’s stock after selling 640 shares during the quarter. HighTower Advisors LLC’s holdings in IDEXX Laboratories were worth $12,334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Flossbach Von Storch SE lifted its position in IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after buying an additional 464,791 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after buying an additional 316,048 shares in the last quarter. Seilern Investment Management Ltd purchased a new position in IDEXX Laboratories during the fourth quarter worth approximately $113,104,000. Vontobel Holding Ltd. lifted its position in IDEXX Laboratories by 90.1% during the fourth quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company’s stock worth $173,051,000 after buying an additional 198,404 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in IDEXX Laboratories during the fourth quarter worth approximately $71,893,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Activity

In other news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on 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 sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through 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 value 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 $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IDXX. Piper Sandler lifted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Barclays lifted their price objective on 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 reduced their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Trading Up 2.2 %

Shares of NASDAQ IDXX opened at $415.30 on Monday. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $438.03 and a 200-day simple moving average of $446.76. The stock has a market capitalization of $33.78 billion, a PE ratio of 38.92, a PEG ratio of 3.41 and a beta of 1.39.

About IDEXX Laboratories

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.