Envestnet Portfolio Solutions Inc. Lowers Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Envestnet Portfolio Solutions Inc. trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,524 shares of the company’s stock after selling 60 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in IDEXX Laboratories were worth $7,658,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after purchasing an additional 25 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of IDEXX Laboratories by 1.8% in the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after purchasing an additional 26 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in shares of IDEXX Laboratories by 3.3% in the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after purchasing an additional 26 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of IDEXX Laboratories by 4.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after purchasing an additional 27 shares in the last quarter. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of IDEXX Laboratories by 4.4% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock valued at $375,000 after purchasing an additional 31 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDXX has been the subject of several recent analyst reports. Piper Sandler boosted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Bank of America boosted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Four 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Trading Up 1.7 %

Shares of IDEXX Laboratories stock opened at $422.36 on Tuesday. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $548.88. The firm has a market capitalization of $34.35 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.41 and a beta of 1.39. The firm’s 50 day simple moving average is $437.89 and its two-hundred day simple moving average is $446.30.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction 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 directly owns 3,061 shares in the company, valued at $1,426,242.34. This trade 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 currently owned by company insiders.

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.