Bell Asset Management Ltd Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bell Asset Management Ltd bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,209 shares of the company’s stock, valued at approximately $4,634,000.

A number of other institutional investors and hedge funds have also made changes to their positions in IDXX. Hurley Capital LLC bought a new position in IDEXX Laboratories during the 4th quarter worth $29,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories in the 4th quarter valued at about $31,000. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at about $38,000. Finally, Crews Bank & Trust bought a new position in IDEXX Laboratories in the 4th quarter worth about $41,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 transaction, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $4,618,824.58. Following the completion of the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents 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 owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on IDXX shares. Morgan Stanley lowered their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Bank of America upped their price target on shares of 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 raised 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. Finally, Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Stock Down 4.1 %

Shares of IDEXX Laboratories stock opened at $393.73 on Monday. The stock’s fifty day moving average is $435.55 and its 200-day moving average is $439.31. The firm has a market capitalization of $31.91 billion, a PE ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 12-month low of $365.93 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.