Clearstead Trust LLC Cuts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Clearstead Trust LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,359 shares of the company’s stock after selling 81 shares during the period. Clearstead Trust LLC’s holdings in IDEXX Laboratories were worth $562,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Cranbrook Wealth Management LLC boosted its position in IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after buying an additional 25 shares during the period. Perigon Wealth Management LLC raised its stake in shares of IDEXX Laboratories by 1.8% during the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after acquiring an additional 26 shares during the last quarter. Summit Trail Advisors LLC raised its stake in shares of IDEXX Laboratories by 3.3% during the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after acquiring an additional 26 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of IDEXX Laboratories by 4.0% during the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after acquiring an additional 27 shares during the last quarter. Finally, Brown Brothers Harriman & Co. raised its stake in shares of IDEXX Laboratories by 4.4% during the third quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock valued at $375,000 after acquiring an additional 31 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’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 transaction of $1,397,820.00. Following 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 disclosure for this sale can be found here. Insiders own 2.18% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $415.30 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $548.88. The company has a 50 day simple moving average of $438.03 and a two-hundred day simple moving average of $447.25. The company has a market capitalization of $33.78 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Bank of America upped their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Barclays increased their price target 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. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday. Four equities research 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 company’s stock. According to data from MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

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.