IDEXX Laboratories, Inc. (NASDAQ:IDXX) Sees Large Growth in Short Interest

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 1,500,000 shares, an increase of 7.1% from the December 31st total of 1,400,000 shares. Currently, 1.9% of the company’s stock are sold short. Based on an average daily volume of 645,100 shares, the short-interest ratio is presently 2.3 days.

Insider Activity

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the transaction, the director now owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 2.18% of the company’s stock.

Institutional Trading of IDEXX Laboratories

Institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its position in IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after purchasing an additional 40,349 shares during the period. Franklin Resources Inc. raised its position in IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock valued at $675,259,000 after purchasing an additional 34,305 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock valued at $379,875,000 after purchasing an additional 2,463 shares during the period. International Assets Investment Management LLC raised its position in IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock valued at $2,669,890,000 after purchasing an additional 527,460 shares during the period. Finally, Flossbach Von Storch SE grew its stake in shares of IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after acquiring an additional 464,791 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 11.1 %

IDXX stock opened at $469.04 on Tuesday. The firm has a market cap of $38.41 billion, a PE ratio of 45.23, a PEG ratio of 3.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.03 and a current ratio of 1.42. The firm’s 50 day moving average price is $424.12 and its 200-day moving average price is $453.55. IDEXX Laboratories has a one year low of $398.50 and a one year high of $583.39.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IDXX. Barclays dropped their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Two 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $517.29.

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.