Hurley Capital LLC Invests $29,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Hurley Capital LLC purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 69 shares of the company’s stock, valued at approximately $29,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of IDEXX Laboratories by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock valued at $948,279,000 after acquiring an additional 37,734 shares in the last quarter. Franklin Resources Inc. increased its holdings in IDEXX Laboratories by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares during the last quarter. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $412,258,000. American Century Companies Inc. boosted its stake in shares of IDEXX Laboratories by 30.9% during the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock valued at $334,810,000 after buying an additional 191,385 shares during the last quarter. Finally, Amundi grew its position in shares of IDEXX Laboratories by 8.1% during the fourth quarter. Amundi now owns 758,669 shares of the company’s stock worth $328,018,000 after buying an additional 56,837 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IDXX. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley lowered their price target 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, Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

Shares of 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 company has a market cap of $31.91 billion, a P/E ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 12 month low of $393.50 and a 12 month high of $548.88. The stock has a fifty day moving average price of $435.55 and a 200 day moving average price of $439.81.

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Company 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.