Pilgrim Partners Asia Pte Ltd Purchases New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pilgrim Partners Asia Pte Ltd acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 260 shares of the company’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in IDXX. Resona Asset Management Co. Ltd. acquired a new stake in IDEXX Laboratories during the fourth quarter valued at $10,503,000. Prudential PLC raised its holdings in IDEXX Laboratories by 3.6% in the 4th quarter. Prudential PLC now owns 52,672 shares of the company’s stock worth $21,777,000 after purchasing an additional 1,835 shares during the period. ExodusPoint Capital Management LP purchased a new position in IDEXX Laboratories during the fourth quarter worth approximately $23,067,000. Motley Fool Asset Management LLC grew its holdings in IDEXX Laboratories by 13.4% in the fourth quarter. Motley Fool Asset Management LLC now owns 4,456 shares of the company’s stock valued at $1,842,000 after purchasing an additional 526 shares during the period. Finally, Cynosure Group LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $1,831,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IDXX. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Piper Sandler boosted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley dropped their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday. Three research 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

Insider Transactions at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was 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 directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 4.1 %

IDXX opened at $393.73 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock has a market capitalization of $31.91 billion, a price-to-earnings ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. The business has a fifty day moving average price of $435.55 and a 200 day moving average price of $440.31. IDEXX Laboratories, Inc. has a 12 month low of $393.50 and a 12 month high of $548.88.

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.