BI Asset Management Fondsmaeglerselskab A S Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

BI Asset Management Fondsmaeglerselskab A S cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 36.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,508 shares of the company's stock after selling 9,483 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in IDEXX Laboratories were worth $6,825,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Insight Wealth Strategies LLC increased its stake in shares of IDEXX Laboratories by 230.5% in the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock worth $4,174,000 after acquiring an additional 7,041 shares in the last quarter. Sax Wealth Advisors LLC boosted its position in shares of IDEXX Laboratories by 76.3% in the 4th quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock worth $590,000 after purchasing an additional 617 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of IDEXX Laboratories by 11.5% in the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock worth $3,199,000 after buying an additional 800 shares during the last quarter. Paragon Capital Management Inc. increased its position in IDEXX Laboratories by 25.7% during the 4th quarter. Paragon Capital Management Inc. now owns 3,820 shares of the company's stock valued at $1,579,000 after buying an additional 782 shares in the last quarter. Finally, Manitou Investment Management Ltd. raised its stake in IDEXX Laboratories by 491.0% during the fourth quarter. Manitou Investment Management Ltd. now owns 52,202 shares of the company's stock valued at $21,582,000 after buying an additional 43,369 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded down $4.84 during mid-day trading on Friday, reaching $436.14. 413,184 shares of the company's stock traded hands, compared to its average volume of 629,597. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $548.88. The firm has a 50 day moving average price of $420.16 and a two-hundred day moving average price of $429.68. The firm has a market capitalization of $35.34 billion, a PE ratio of 40.91, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Transactions at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company's stock in a transaction on 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 completion of the transaction, the director now directly 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. Corporate insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on IDXX. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Piper Sandler upped 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, StockNews.com downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Saturday, April 12th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of "Moderate Buy" and an average target price of $523.75.

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.