Suncoast Equity Management Raises Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Suncoast Equity Management increased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,524 shares of the company’s stock after purchasing an additional 158 shares during the period. Suncoast Equity Management’s holdings in IDEXX Laboratories were worth $630,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its stake in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after buying an additional 60 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter worth $37,000. Finally, Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IDXX shares. Morgan Stanley lowered their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Bank of America boosted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays increased their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Trading Up 0.4 %

NASDAQ IDXX opened at $452.89 on Friday. The stock has a market cap of $37.09 billion, a P/E ratio of 42.45, a PEG ratio of 3.39 and a beta of 1.37. The company’s fifty day simple moving average is $431.19 and its 200-day simple moving average is $452.42. 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 52 week low of $398.50 and a 52 week high of $583.39.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at $380,498.20. This trade represents a 27.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the transaction, the director now directly owns 3,061 shares in the company, valued at approximately $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. Insiders have sold 13,330 shares of company stock valued at $6,161,276 in the last quarter. 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.