IDEXX Laboratories, Inc. (NASDAQ:IDXX) Holdings Lowered by Dearborn Partners LLC

Dearborn Partners LLC cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.5% in the 4th quarter, HoldingsChannel reports. The fund owned 1,080 shares of the company’s stock after selling 75 shares during the period. Dearborn Partners LLC’s holdings in IDEXX Laboratories were worth $447,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in IDXX. Cranbrook Wealth Management LLC lifted its position in IDEXX Laboratories by 7.0% in the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after purchasing an additional 25 shares during the period. Perigon Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 1.8% in the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after buying an additional 26 shares during the period. Summit Trail Advisors LLC boosted its stake in IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after buying an additional 26 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock worth $356,000 after acquiring an additional 27 shares during the period. Finally, Brown Brothers Harriman & Co. raised its position in IDEXX Laboratories by 4.4% in the third quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock worth $375,000 after acquiring an additional 31 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $426.69 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $552.20. 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 stock has a market cap of $34.70 billion, a PE ratio of 39.99, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The business has a fifty day simple moving average of $438.11 and a 200-day simple moving average of $448.27.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now 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. Company insiders own 2.18% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several research reports. Piper Sandler raised 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. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Four 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, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

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.