KLP Kapitalforvaltning AS Purchases Shares of 38,400 IDEXX Laboratories, Inc. (NASDAQ:IDXX)

KLP Kapitalforvaltning AS purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 38,400 shares of the company’s stock, valued at approximately $15,876,000.

Other hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the third quarter worth $25,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $31,000. Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $38,000. Finally, Crews Bank & Trust acquired a new stake in shares of IDEXX Laboratories in the fourth quarter worth $41,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Barclays increased their price target 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, Piper Sandler increased their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX opened at $420.99 on Monday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company has a market cap of $34.12 billion, a price-to-earnings ratio of 39.46, a PEG 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 firm’s fifty day simple moving average is $437.36 and its two-hundred day simple moving average is $444.76.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated 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 $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

About IDEXX Laboratories

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.