Cardinal Capital Management Grows Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cardinal Capital Management raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,954 shares of the company’s stock after acquiring an additional 35 shares during the quarter. Cardinal Capital Management’s holdings in IDEXX Laboratories were worth $5,769,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in IDXX. Chicago Partners Investment Group LLC lifted its stake in shares of IDEXX Laboratories by 16.7% in the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after purchasing an additional 96 shares during the period. National Pension Service increased its holdings in IDEXX Laboratories by 7.3% in the third quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after buying an additional 12,647 shares in the last quarter. Insight Wealth Strategies LLC lifted its position in shares of IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock valued at $4,174,000 after acquiring an additional 7,041 shares during the period. Larson Financial Group LLC boosted its stake in shares of IDEXX Laboratories by 17,238.5% during the 3rd quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock worth $1,139,000 after acquiring an additional 2,241 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of IDEXX Laboratories by 4,059.4% in the 3rd quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock worth $1,450,000 after acquiring an additional 2,801 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDXX has been the subject of several research reports. Piper Sandler lifted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Barclays lifted 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. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Finally, Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insiders Place Their Bets

In related news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 13,330 shares of company stock valued at $6,161,276. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $444.53 on Tuesday. 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 has a market cap of $36.40 billion, a PE ratio of 41.66, a P/E/G ratio of 3.47 and a beta of 1.37. The firm has a 50 day simple moving average of $430.95 and a 200-day simple moving average of $452.80. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

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.