Penobscot Investment Management Company Inc. Sells 176 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Penobscot Investment Management Company Inc. decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 740 shares of the company’s stock after selling 176 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in IDEXX Laboratories were worth $306,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Florida Financial Advisors LLC grew its position in IDEXX Laboratories by 26.7% during the fourth quarter. Florida Financial Advisors LLC now owns 850 shares of the company’s stock valued at $351,000 after buying an additional 179 shares during the period. Segall Bryant & Hamill LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $8,600,000. KLP Kapitalforvaltning AS bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $15,876,000. American Century Companies Inc. increased its stake in shares of IDEXX Laboratories by 30.9% in the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock worth $334,810,000 after purchasing an additional 191,385 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its holdings in IDEXX Laboratories by 45.4% in the 4th quarter. Mizuho Securities USA LLC now owns 7,761 shares of the company’s stock worth $3,209,000 after purchasing an additional 2,424 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s 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 directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This trade represents 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 Price Performance

Shares of NASDAQ:IDXX opened at $417.71 on Thursday. The firm has a market cap of $33.86 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 3.41 and a beta of 1.39. The firm has a fifty day moving average price of $437.26 and a 200 day moving average price of $443.87. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Analyst Upgrades and Downgrades

A number of analysts have commented on IDXX shares. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Morgan Stanley reduced their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Barclays lifted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

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.