Banque Pictet & Cie SA Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Banque Pictet & Cie SA lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,038 shares of the company’s stock after selling 535 shares during the period. Banque Pictet & Cie SA’s holdings in IDEXX Laboratories were worth $1,256,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. Creative Planning lifted its stake in 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 purchasing an additional 614 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in IDEXX Laboratories by 19.0% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,306 shares of the company’s stock valued at $1,670,000 after purchasing an additional 529 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in IDEXX Laboratories by 1.4% in the third quarter. Bleakley Financial Group LLC now owns 2,861 shares of the company’s stock valued at $1,445,000 after purchasing an additional 39 shares during the last quarter. Marshall Financial Group LLC raised its holdings in IDEXX Laboratories by 1.6% during the 3rd quarter. Marshall Financial Group LLC now owns 1,884 shares of the company’s stock valued at $952,000 after acquiring an additional 30 shares during the period. Finally, Cardinal Capital Management raised its holdings in IDEXX Laboratories by 0.7% during the 3rd quarter. Cardinal Capital Management now owns 13,919 shares of the company’s stock valued at $7,032,000 after acquiring an additional 93 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 3.3 %

IDXX opened at $444.53 on Friday. The business’s fifty day simple moving average is $430.77 and its 200 day simple moving average is $453.31. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The stock has a market cap of $36.40 billion, a PE ratio of 41.66, a P/E/G ratio of 3.47 and a beta of 1.37.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Piper Sandler boosted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Bank of America boosted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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. According to data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction dated 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 represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,330 shares of company stock worth $6,161,276 over the last three months. Company insiders own 2.11% of the company’s stock.

About IDEXX Laboratories

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.