Summit Financial LLC Sells 110 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Summit Financial LLC reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,422 shares of the company’s stock after selling 110 shares during the quarter. Summit Financial LLC’s holdings in IDEXX Laboratories were worth $1,001,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of IDXX. Cranbrook Wealth Management LLC increased its position in shares of IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock worth $632,000 after purchasing an additional 26 shares in the last quarter. Summit Trail Advisors LLC raised its stake in shares of IDEXX Laboratories by 3.3% in the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock worth $335,000 after purchasing an additional 26 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of IDEXX Laboratories by 3.6% during the fourth quarter. IFP Advisors Inc now owns 903 shares of the company’s stock valued at $373,000 after purchasing an additional 31 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank boosted its position in shares of IDEXX Laboratories by 0.5% during the third quarter. Cape Cod Five Cents Savings Bank now owns 6,344 shares of the company’s stock valued at $3,091,000 after buying an additional 32 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the sale, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 0.3 %

IDXX stock opened at $418.57 on Wednesday. The business’s 50-day moving average price is $436.90 and its 200-day moving average price is $441.45. The stock has a market cap of $33.93 billion, a P/E ratio of 39.23, a PEG ratio of 3.41 and a beta of 1.39. 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.

Analysts Set New Price Targets

IDXX has been the topic of several research analyst reports. Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Barclays increased their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Piper Sandler increased their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

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.