CFC Planning Co LLC Buys New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

CFC Planning Co LLC bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,177 shares of the company’s stock, valued at approximately $487,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning boosted its stake in shares of IDEXX Laboratories by 2.6% during the 3rd quarter. Creative Planning now owns 24,436 shares of the company’s stock worth $12,346,000 after acquiring an additional 614 shares in the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in shares of IDEXX Laboratories by 19.0% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,306 shares of the company’s stock valued at $1,670,000 after purchasing an additional 529 shares during the period. Bleakley Financial Group LLC increased its stake in IDEXX Laboratories by 1.4% in the 3rd quarter. Bleakley Financial Group LLC now owns 2,861 shares of the company’s stock worth $1,445,000 after purchasing an additional 39 shares in the last quarter. Marshall Financial Group LLC raised its holdings in IDEXX Laboratories by 1.6% during the 3rd quarter. Marshall Financial Group LLC now owns 1,884 shares of the company’s stock worth $952,000 after buying an additional 30 shares during the period. Finally, Cardinal Capital Management lifted its stake in IDEXX Laboratories by 0.7% during the third quarter. Cardinal Capital Management now owns 13,919 shares of the company’s stock valued at $7,032,000 after buying an additional 93 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business’s 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 sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,330 shares of company stock worth $6,161,276 in the last three months. 2.11% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

IDXX opened at $459.76 on Friday. The stock has a market cap of $37.65 billion, a price-to-earnings ratio of 43.09, a PEG ratio of 3.47 and a beta of 1.37. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $430.12 and a 200 day moving average price of $453.26.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Morgan Stanley decreased their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $533.75.

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.