FFT Wealth Management LLC Makes New Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

FFT Wealth Management LLC purchased a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 550 shares of the company’s stock, valued at approximately $227,000.

Other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in IDEXX Laboratories by 16.7% during the third quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock worth $340,000 after purchasing an additional 96 shares during the period. National Pension Service increased its position in shares of IDEXX Laboratories by 7.3% during the third quarter. National Pension Service now owns 185,972 shares of the company’s stock worth $93,957,000 after acquiring an additional 12,647 shares in the last quarter. Insight Wealth Strategies LLC increased its holdings in IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after purchasing an additional 7,041 shares in the last quarter. Larson Financial Group LLC grew its holdings in IDEXX Laboratories by 17,238.5% during the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock worth $1,139,000 after buying an additional 2,241 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of IDEXX Laboratories by 4,059.4% in the third quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock valued at $1,450,000 after purchasing an additional 2,801 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $457.81 on Thursday. The stock’s 50 day moving average is $434.18 and its 200 day moving average is $451.92. The company has a market capitalization of $37.23 billion, a P/E ratio of 42.91, a PEG ratio of 3.41 and a beta of 1.37. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $583.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Transactions at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were 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 owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 3,061 shares of the company’s stock, 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.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of research analyst reports. Piper Sandler increased their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Bank of America boosted their price target 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. Leerink Partners began coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

About IDEXX Laboratories

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.