Essex Financial Services Inc. Sells 179 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Essex Financial Services Inc. cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,244 shares of the company’s stock after selling 179 shares during the quarter. Essex Financial Services Inc.’s holdings in IDEXX Laboratories were worth $928,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares during the period. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories in the fourth quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new position in shares of IDEXX Laboratories in the third quarter worth approximately $37,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock opened at $463.74 on Wednesday. The company has a fifty day simple moving average of $429.03 and a two-hundred day simple moving average of $453.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $37.98 billion, a P/E ratio of 43.46, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley decreased their price objective on 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 target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Four 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 company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $533.75.

Insider Activity at IDEXX Laboratories

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction dated Wednesday, November 27th. The shares were 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business’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 transaction, 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 quarter, insiders sold 13,330 shares of company stock valued at $6,161,276. Insiders own 2.11% of the company’s stock.

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.