Belpointe Asset Management LLC Makes New $703,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Belpointe Asset Management LLC acquired a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, Holdings Channel.com reports. The fund acquired 1,700 shares of the company’s stock, valued at approximately $703,000.

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

Insider Buying and Selling

In other IDEXX Laboratories news, 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 completion of the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the 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 transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several research analyst reports. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday. Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley decreased their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $523.75.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $404.02 on Wednesday. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. The stock’s 50-day moving average is $425.62 and its two-hundred day moving average is $432.65. 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 firm has a market cap of $32.74 billion, a P/E ratio of 37.87, a PEG ratio of 3.41 and a beta of 1.50.

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.