Wellington Management Group LLP Has $80.77 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wellington Management Group LLP lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 161.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 195,369 shares of the company’s stock after purchasing an additional 120,558 shares during the quarter. Wellington Management Group LLP’s holdings in IDEXX Laboratories were worth $80,773,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its stake in IDEXX Laboratories by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after acquiring an additional 40,349 shares during the period. Franklin Resources Inc. increased its position in shares of IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares during the period. Norges Bank bought a new position in shares of IDEXX Laboratories in the fourth quarter worth $412,258,000. American Century Companies Inc. raised its stake in IDEXX Laboratories by 30.9% in the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock valued at $334,810,000 after purchasing an additional 191,385 shares in the last quarter. Finally, Amundi lifted its position in IDEXX Laboratories by 8.1% during the fourth quarter. Amundi now owns 758,669 shares of the company’s stock worth $328,018,000 after purchasing an additional 56,837 shares during the period. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Bank of America boosted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley reduced their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $393.73 on Friday. The firm has a market capitalization of $31.91 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $435.55 and its 200-day moving average price is $440.31. IDEXX Laboratories, Inc. has a 12 month low of $393.50 and a 12 month high of $548.88.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the firm’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 of the company’s stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % 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 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.