Quantbot Technologies LP Acquires 12,626 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Quantbot Technologies LP raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,870.5% in the fourth quarter, Holdings Channel reports. The firm owned 13,301 shares of the company’s stock after purchasing an additional 12,626 shares during the period. Quantbot Technologies LP’s holdings in IDEXX Laboratories were worth $5,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Cranbrook Wealth Management LLC grew its stake in 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 during the period. Perigon Wealth Management LLC grew its stake in 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 during the period. Summit Trail Advisors LLC grew its stake in 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 during the period. First Horizon Advisors Inc. lifted its position in shares of IDEXX Laboratories by 4.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after buying an additional 27 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of IDEXX Laboratories by 4.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock valued at $375,000 after buying an additional 31 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $420.99 on Friday. The business’s 50-day moving average price is $437.36 and its two-hundred day moving average price is $445.11. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88. The stock has a market cap of $34.24 billion, a P/E ratio of 39.46, a PEG ratio of 3.41 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Analyst Ratings Changes

IDXX has been the topic of a number of recent research reports. Piper Sandler upped their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Bank of America upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Morgan Stanley dropped their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the 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 transaction, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP George Fennell sold 9,986 shares of the 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at $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. Insiders own 2.11% of the company’s stock.

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.