CIBC Private Wealth Group LLC Sells 97,450 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

CIBC Private Wealth Group LLC lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 54.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 80,476 shares of the company’s stock after selling 97,450 shares during the period. CIBC Private Wealth Group LLC’s holdings in IDEXX Laboratories were worth $34,795,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in shares of IDEXX Laboratories by 1.8% in the third 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. raised its holdings in IDEXX Laboratories by 2.5% during the 3rd 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 last quarter. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $412,258,000. American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 30.9% in the 4th 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 during the last quarter. Finally, Amundi boosted its stake in shares of IDEXX Laboratories by 8.1% in the 4th quarter. Amundi now owns 758,669 shares of the company’s stock valued at $328,018,000 after purchasing an additional 56,837 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred on Monday, February 10th. The stock was 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 approximately $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. Corporate insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on IDXX. Morgan Stanley dropped their target price 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. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Bank of America raised their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $415.87 on Monday. The business’s fifty day moving average is $437.07 and its 200 day moving average is $442.57. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $548.88. 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 stock has a market cap of $33.71 billion, a P/E ratio of 38.98, a P/E/G ratio of 3.41 and a beta of 1.39.

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.