Gulf International Bank UK Ltd Sells 71 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Gulf International Bank UK Ltd reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,492 shares of the company’s stock after selling 71 shares during the period. Gulf International Bank UK Ltd’s holdings in IDEXX Laboratories were worth $2,684,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in IDXX. First Trust Direct Indexing L.P. lifted its holdings in shares of IDEXX Laboratories by 26.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,770 shares of the company’s stock worth $1,400,000 after acquiring an additional 583 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in shares of IDEXX Laboratories by 9.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,070 shares of the company’s stock worth $1,149,000 after acquiring an additional 171 shares during the last quarter. Financial Advocates Investment Management raised its position in IDEXX Laboratories by 7.3% in the 3rd quarter. Financial Advocates Investment Management now owns 783 shares of the company’s stock worth $396,000 after purchasing an additional 53 shares during the period. Manitou Investment Management Ltd. lifted its stake in IDEXX Laboratories by 5.5% in the third quarter. Manitou Investment Management Ltd. now owns 8,833 shares of the company’s stock worth $4,463,000 after purchasing an additional 462 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in IDEXX Laboratories by 15.0% in the third quarter. Farther Finance Advisors LLC now owns 805 shares of the company’s stock worth $407,000 after purchasing an additional 105 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the transaction, the director now directly owns 3,061 shares of the company’s stock, 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. 2.11% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America boosted their price target 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. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $437.11 on Friday. The company has a market cap of $35.55 billion, a price-to-earnings ratio of 40.97, a price-to-earnings-growth ratio of 3.41 and a beta of 1.37. The company has a 50-day moving average price of $435.31 and a 200-day moving average price of $451.54. 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 $583.39.

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.