Lee Danner & Bass Inc. Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Lee Danner & Bass Inc. purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, HoldingsChannel reports. The firm purchased 1,176 shares of the company’s stock, valued at approximately $486,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC raised its position in IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after purchasing an additional 40,349 shares in the last quarter. Franklin Resources Inc. raised its position in IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after purchasing an additional 34,305 shares in the last quarter. Amundi raised its position in IDEXX Laboratories by 8.1% during the fourth quarter. Amundi now owns 758,669 shares of the company’s stock valued at $328,018,000 after purchasing an additional 56,837 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in IDEXX Laboratories by 0.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after purchasing an additional 2,463 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in IDEXX Laboratories by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,692 shares of the company’s stock valued at $219,823,000 after purchasing an additional 16,213 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

IDXX has been the subject of several research analyst reports. Piper Sandler boosted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Barclays boosted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Bank of America boosted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $420.99 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88. The stock has a market cap of $34.24 billion, a price-to-earnings ratio of 39.46, a P/E/G ratio of 3.41 and a beta of 1.39. The company’s fifty day moving average is $437.36 and its 200 day moving average is $445.11.

Insider Activity at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

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.