Summit Financial LLC Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Summit Financial LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,422 shares of the company’s stock after selling 110 shares during the quarter. Summit Financial LLC’s holdings in IDEXX Laboratories were worth $1,001,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC grew its holdings in IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after buying an additional 40,349 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after purchasing an additional 34,305 shares in the last quarter. Norges Bank bought a new stake in IDEXX Laboratories in the fourth quarter worth $412,258,000. American Century Companies Inc. raised its stake in IDEXX Laboratories by 30.9% during the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock valued at $334,810,000 after purchasing an additional 191,385 shares in the last quarter. Finally, Amundi lifted its position in IDEXX Laboratories by 8.1% during the fourth quarter. Amundi now owns 758,669 shares of the company’s stock valued at $328,018,000 after purchasing an additional 56,837 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction 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 owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction dated Monday, February 10th. The shares were 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 owns 8,176 shares of the company’s stock, 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 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 0.3 %

IDXX stock opened at $418.57 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The firm’s 50-day moving average is $436.90 and its 200 day moving average is $441.45. The company has a market capitalization of $33.93 billion, a PE ratio of 39.23, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research reports. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Bank of America raised their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley cut 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. Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler boosted their price objective on shares of 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories 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.