Marks Group Wealth Management Inc Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Marks Group Wealth Management Inc lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,009 shares of the company’s stock after acquiring an additional 869 shares during the quarter. Marks Group Wealth Management Inc’s holdings in IDEXX Laboratories were worth $4,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC boosted its stake in shares of IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after acquiring an additional 527,460 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of IDEXX Laboratories by 265.6% in 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 last quarter. Seilern Investment Management Ltd bought a new position in IDEXX Laboratories during the fourth quarter valued at $113,104,000. Vontobel Holding Ltd. grew its holdings in IDEXX Laboratories by 3,325.0% during the 3rd quarter. Vontobel Holding Ltd. now owns 220,159 shares of the company’s stock valued at $111,229,000 after purchasing an additional 213,731 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of IDEXX Laboratories by 230.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 110,196 shares of the company’s stock worth $55,673,000 after buying an additional 76,809 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on IDXX shares. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $463.74 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 1.03. The firm’s 50 day simple moving average is $429.03 and its 200-day simple moving average is $453.28. The stock has a market capitalization of $37.98 billion, a price-to-earnings ratio of 43.46, a PEG ratio of 3.47 and a beta of 1.37.

Insider Activity

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated Monday, February 10th. The shares were 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 13,330 shares of company stock worth $6,161,276 in the last ninety days. Company insiders own 2.11% of the company’s stock.

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.