Horizon Investments LLC Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Horizon Investments LLC increased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,296 shares of the company’s stock after purchasing an additional 42 shares during the period. Horizon Investments LLC’s holdings in IDEXX Laboratories were worth $536,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories in the 3rd quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at approximately $38,000. Finally, Crews Bank & Trust purchased a new position in IDEXX Laboratories in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $420.62 on Friday. The company’s fifty day moving average price is $437.30 and its 200 day moving average price is $445.53. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The firm has a market capitalization of $34.21 billion, a P/E ratio of 39.42, a P/E/G ratio of 3.41 and a beta of 1.39.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler raised their price target 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. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Barclays lifted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, March 15th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.