Westpac Banking Corp Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Westpac Banking Corp decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 79.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,030 shares of the company’s stock after selling 4,100 shares during the period. Westpac Banking Corp’s holdings in IDEXX Laboratories were worth $426,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth $31,000. Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth $38,000. Crews Bank & Trust purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $41,000. Finally, BankPlus Trust Department acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $60,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on 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 completion of the transaction, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on Monday, February 10th. The stock was 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 directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Trading Down 4.1 %

NASDAQ IDXX opened at $393.73 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market cap 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 firm has a 50 day simple moving average of $435.55 and a 200-day simple moving average of $440.31. IDEXX Laboratories, Inc. has a one year low of $393.50 and a one year high of $548.88.

Analysts Set New Price Targets

Several research firms recently issued reports on IDXX. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday. Barclays lifted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Morgan Stanley lowered their price objective 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 upped their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus price target 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.