HighTower Advisors LLC Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HighTower Advisors LLC cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,832 shares of the company’s stock after selling 640 shares during the quarter. HighTower Advisors LLC’s holdings in IDEXX Laboratories were worth $12,334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AGF Management Ltd. purchased a new stake in IDEXX Laboratories in the fourth quarter valued at about $516,000. Inspire Advisors LLC raised its stake in IDEXX Laboratories by 15.2% in the fourth quarter. Inspire Advisors LLC now owns 1,241 shares of the company’s stock valued at $513,000 after buying an additional 164 shares during the last quarter. King Luther Capital Management Corp raised its stake in IDEXX Laboratories by 3.7% in the fourth quarter. King Luther Capital Management Corp now owns 4,872 shares of the company’s stock valued at $2,014,000 after buying an additional 175 shares during the last quarter. Citizens Financial Group Inc. RI raised its stake in IDEXX Laboratories by 7.2% in the fourth quarter. Citizens Financial Group Inc. RI now owns 914 shares of the company’s stock valued at $378,000 after buying an additional 61 shares during the last quarter. Finally, Sage Mountain Advisors LLC raised its stake in shares of IDEXX Laboratories by 9.9% in the fourth quarter. Sage Mountain Advisors LLC now owns 612 shares of the company’s stock worth $253,000 after purchasing an additional 55 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Up 2.2 %

IDEXX Laboratories stock opened at $415.30 on Monday. The firm has a market cap of $33.78 billion, a price-to-earnings ratio of 38.92, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The business’s 50-day moving average price is $438.03 and its 200 day moving average price is $446.76. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.18% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on IDXX shares. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America raised their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Finally, Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Company 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.