PFG Advisors Acquires 50 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

PFG Advisors increased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,465 shares of the company’s stock after purchasing an additional 50 shares during the period. PFG Advisors’ holdings in IDEXX Laboratories were worth $3,086,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. FSA Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $37,000. Finally, Kestra Investment Management LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $38,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 3.3 %

NASDAQ:IDXX opened at $412.40 on Thursday. The firm has a market capitalization of $33.54 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $550.24. The stock’s 50 day moving average price is $438.09 and its two-hundred day moving average price is $448.02. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent research reports. Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partners initiated 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. Morgan Stanley dropped 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 lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Finally, Piper Sandler lifted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Four equities 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 MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders own 2.18% of the company’s stock.

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.