Brasada Capital Management LP Buys 5,636 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Brasada Capital Management LP raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 29,523 shares of the company’s stock after acquiring an additional 5,636 shares during the period. IDEXX Laboratories makes up approximately 2.2% of Brasada Capital Management LP’s holdings, making the stock its 12th largest holding. Brasada Capital Management LP’s holdings in IDEXX Laboratories were worth $12,477,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Hurley Capital LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $29,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories in the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth approximately $41,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction that occurred 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 $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $421.59 on Wednesday. IDEXX Laboratories, Inc. has a 1-year low of $356.14 and a 1-year high of $548.88. The company has a 50 day moving average of $420.59 and a 200-day moving average of $429.92. 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 firm has a market cap of $34.17 billion, a price-to-earnings ratio of 39.51, a PEG ratio of 3.41 and a beta of 1.50.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on IDXX. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a report on Monday, April 14th. Barclays upped their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley cut their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, Bank of America upped their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $523.75.

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.