IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Position Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 149,574 shares of the company’s stock after selling 43,142 shares during the period. Envestnet Asset Management Inc.’s holdings in IDEXX Laboratories were worth $61,840,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Investidor Profissional Gestao de Recursos Ltda. purchased a new stake in shares of IDEXX Laboratories during the fourth quarter valued at $491,000. Aviva PLC lifted its stake in IDEXX Laboratories by 23.6% in the 4th quarter. Aviva PLC now owns 123,441 shares of the company’s stock worth $51,035,000 after acquiring an additional 23,542 shares in the last quarter. Pilgrim Partners Asia Pte Ltd purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $107,000. Resona Asset Management Co. Ltd. purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $10,503,000. Finally, Prudential PLC raised its stake in shares of IDEXX Laboratories by 3.6% during the 4th quarter. Prudential PLC now owns 52,672 shares of the company’s stock worth $21,777,000 after purchasing an additional 1,835 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on IDXX. Morgan Stanley cut their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, April 4th. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Piper Sandler increased their price objective 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 increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $533.75.

Insider Buying and Selling

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’s 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 owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

IDEXX Laboratories Trading Up 10.0 %

Shares of NASDAQ:IDXX opened at $397.10 on Thursday. The company has a market capitalization of $32.18 billion, a P/E ratio of 37.22, a P/E/G ratio of 3.41 and a beta of 1.50. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The business’s 50 day simple moving average is $431.26 and its 200 day simple moving average is $435.73.

IDEXX Laboratories Company 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.