Headlands Technologies LLC Makes New $2.37 Million Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Headlands Technologies LLC bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,721 shares of the company’s stock, valued at approximately $2,365,000.

A number of other hedge funds have also recently modified their holdings of IDXX. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories in the third quarter valued at $25,000. Rialto Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $31,000. Kestra Investment Management LLC purchased a new position in IDEXX Laboratories during the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust acquired a new position in IDEXX Laboratories during the fourth quarter worth approximately $41,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on IDXX shares. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale 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 business’s stock in a transaction dated 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 in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Up 1.0 %

IDXX opened at $419.95 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The stock has a market capitalization of $34.04 billion, a P/E ratio of 39.36, a P/E/G ratio of 3.41 and a beta of 1.39. The business has a 50 day simple moving average of $437.08 and a 200-day simple moving average of $442.03.

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.