Waycross Partners LLC Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Waycross Partners LLC purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,438 shares of the company’s stock, valued at approximately $13,411,000. IDEXX Laboratories comprises about 1.7% of Waycross Partners LLC’s investment portfolio, making the stock its 27th largest position.

Several other institutional investors have also recently added to or reduced their stakes in IDXX. Creative Planning raised its stake in shares of IDEXX Laboratories by 2.6% in the third quarter. Creative Planning now owns 24,436 shares of the company’s stock valued at $12,346,000 after acquiring an additional 614 shares during the last quarter. Blue Trust Inc. increased its holdings in IDEXX Laboratories by 108.5% during the 3rd quarter. Blue Trust Inc. now owns 1,551 shares of the company’s stock valued at $756,000 after purchasing an additional 807 shares in the last quarter. Penn Davis Mcfarland Inc. bought a new position in IDEXX Laboratories in the 3rd quarter valued at $404,000. Suncoast Equity Management boosted its stake in IDEXX Laboratories by 3.4% in the third quarter. Suncoast Equity Management now owns 1,366 shares of the company’s stock worth $690,000 after purchasing an additional 45 shares in the last quarter. Finally, Crew Capital Management Ltd. grew its holdings in shares of IDEXX Laboratories by 19.7% during the third quarter. Crew Capital Management Ltd. now owns 2,071 shares of the company’s stock worth $1,046,000 after purchasing an additional 341 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on IDXX shares. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $533.75.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the business’s 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction that occurred 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 sale, the director now owns 3,061 shares in the company, valued at $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. Over the last quarter, insiders sold 13,330 shares of company stock worth $6,161,276. 2.11% of the stock is owned by insiders.

IDEXX Laboratories Stock Performance

IDXX stock opened at $444.53 on Tuesday. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The company has a market cap of $36.40 billion, a P/E ratio of 41.66, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37. The business’s fifty day moving average is $430.95 and its 200-day moving average is $452.80.

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.