Quantbot Technologies LP Acquires 12,626 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Quantbot Technologies LP raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,870.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,301 shares of the company’s stock after acquiring an additional 12,626 shares during the period. Quantbot Technologies LP’s holdings in IDEXX Laboratories were worth $5,499,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IDXX. FSA Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the third quarter worth about $25,000. Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $30,000. Retirement Wealth Solutions LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $38,000. Finally, Crews Bank & Trust acquired a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $41,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents 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 link. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on IDXX shares. Morgan Stanley cut their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $420.99 on Friday. 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 twelve month low of $398.50 and a twelve month high of $548.88. The stock’s 50 day moving average is $437.36 and its 200-day moving average is $445.11. The firm has a market capitalization of $34.24 billion, a price-to-earnings ratio of 39.46, 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.