Envestnet Portfolio Solutions Inc. Sells 60 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Envestnet Portfolio Solutions Inc. trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,524 shares of the company’s stock after selling 60 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in IDEXX Laboratories were worth $7,658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. Flossbach Von Storch SE raised its position in shares of IDEXX Laboratories by 5,439.3% during the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after purchasing an additional 464,791 shares during the period. Assenagon Asset Management S.A. raised its position in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after purchasing an additional 316,048 shares during the period. Seilern Investment Management Ltd bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $113,104,000. Vontobel Holding Ltd. increased its holdings in IDEXX Laboratories by 90.1% in the 4th quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company’s stock valued at $173,051,000 after acquiring an additional 198,404 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IDEXX Laboratories in the 4th quarter valued at $71,893,000. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on IDXX. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Morgan Stanley reduced their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Barclays lifted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $422.36 on Tuesday. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a fifty day simple moving average of $437.89 and a two-hundred day simple moving average of $446.30. The stock has a market capitalization of $34.35 billion, a P/E ratio of 39.58, a PEG ratio of 3.41 and a beta of 1.39.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

IDEXX Laboratories Company 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.