IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Lowered by Patten Group Inc.

Patten Group Inc. trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,804 shares of the company’s stock after selling 804 shares during the period. Patten Group Inc.’s holdings in IDEXX Laboratories were worth $2,400,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 15.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 805 shares of the company’s stock valued at $407,000 after buying an additional 105 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after acquiring an additional 96 shares in the last quarter. Van ECK Associates Corp raised its position in IDEXX Laboratories by 10.4% during the third quarter. Van ECK Associates Corp now owns 25,133 shares of the company’s stock valued at $12,698,000 after acquiring an additional 2,367 shares in the last quarter. National Pension Service lifted its stake 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 acquiring an additional 12,647 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its position in IDEXX Laboratories by 1.4% in the third quarter. Asset Management One Co. Ltd. now owns 49,787 shares of the company’s stock worth $25,153,000 after acquiring an additional 707 shares in the last quarter. Institutional investors and hedge funds 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 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 of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction that occurred on 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 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 position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on IDXX shares. Morgan Stanley cut their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Piper Sandler boosted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $437.15 on Tuesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $580.18. 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 company has a market cap of $35.55 billion, a P/E ratio of 40.97, a P/E/G ratio of 3.41 and a beta of 1.37. The business’s 50 day moving average is $435.79 and its two-hundred day moving average is $450.78.

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.