HM Payson & Co. Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

HM Payson & Co. lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,025 shares of the company’s stock after selling 1,328 shares during the period. HM Payson & Co.’s holdings in IDEXX Laboratories were worth $9,106,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of IDXX. PNC Financial Services Group Inc. grew its holdings in shares of IDEXX Laboratories by 4.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 42,012 shares of the company’s stock valued at $17,369,000 after buying an additional 1,712 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in IDEXX Laboratories by 7.5% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 223,841 shares of the company’s stock valued at $99,130,000 after purchasing an additional 15,565 shares during the last quarter. Machina Capital S.A.S. grew its stake in IDEXX Laboratories by 134.4% during the 4th quarter. Machina Capital S.A.S. now owns 3,070 shares of the company’s stock valued at $1,269,000 after purchasing an additional 1,760 shares during the last quarter. Haven Private LLC acquired a new position in shares of IDEXX Laboratories in the fourth quarter valued at about $835,000. Finally, Andra AP fonden raised its stake in shares of IDEXX Laboratories by 17.4% in the fourth quarter. Andra AP fonden now owns 33,700 shares of the company’s stock worth $13,933,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. 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 note on Tuesday, February 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners began coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Finally, Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Trading Up 0.3 %

IDXX stock opened at $430.12 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $574.94. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market cap of $34.98 billion, a P/E ratio of 40.31, a PEG ratio of 3.41 and a beta of 1.39. The company’s 50-day simple moving average is $437.37 and its 200-day simple moving average is $449.72.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction that occurred on 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 $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred 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 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 position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

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.