IDEXX Laboratories, Inc. (NASDAQ:IDXX) Sees Significant Growth in Short Interest

IDEXX Laboratories, Inc. (NASDAQ:IDXX) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,500,000 shares, a growth of 7.1% from the December 31st total of 1,400,000 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily trading volume, of 645,100 shares, the short-interest ratio is presently 2.3 days.

IDEXX Laboratories Price Performance

IDXX stock opened at $469.04 on Tuesday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The stock has a market cap of $38.41 billion, a PE ratio of 45.23, a P/E/G ratio of 3.64 and a beta of 1.37. The firm has a 50 day simple moving average of $424.12 and a two-hundred day simple moving average of $453.55. IDEXX Laboratories has a one year low of $398.50 and a one year high of $583.39.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.18% of the stock is owned by insiders.

Hedge Funds Weigh In On IDEXX Laboratories

Institutional investors and hedge funds have recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its stake in shares of IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after buying an additional 96 shares during the period. National Pension Service lifted its holdings in shares of IDEXX Laboratories by 7.3% during the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after purchasing an additional 12,647 shares during the last quarter. Insight Wealth Strategies LLC raised its stake in IDEXX Laboratories by 230.5% during the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock valued at $4,174,000 after buying an additional 7,041 shares during the last quarter. Larson Financial Group LLC boosted its stake in IDEXX Laboratories by 17,238.5% in the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,241 shares in the last quarter. Finally, Quest Partners LLC lifted its position in IDEXX Laboratories by 4,059.4% in the 3rd quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock valued at $1,450,000 after acquiring an additional 2,801 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on IDXX shares. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. JPMorgan Chase & Co. reduced their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Morgan Stanley cut their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $517.29.

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.