Handelsbanken Fonder AB Sells 2,577 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Handelsbanken Fonder AB lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 37,833 shares of the company’s stock after selling 2,577 shares during the quarter. Handelsbanken Fonder AB’s holdings in IDEXX Laboratories were worth $15,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in IDXX. Assenagon Asset Management S.A. lifted its holdings in shares of IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares during the last quarter. Seilern Investment Management Ltd bought a new position in shares of IDEXX Laboratories in the fourth quarter worth about $113,104,000. Vontobel Holding Ltd. lifted its holdings in shares of IDEXX Laboratories by 90.1% in the fourth quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company’s stock worth $173,051,000 after acquiring an additional 198,404 shares during the last quarter. Worldquant Millennium Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 230.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 110,196 shares of the company’s stock worth $55,673,000 after acquiring an additional 76,809 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of IDEXX Laboratories by 150.6% in the third quarter. Thrivent Financial for Lutherans now owns 108,258 shares of the company’s stock worth $54,693,000 after acquiring an additional 65,050 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America raised their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Morgan Stanley dropped their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. 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 report on Monday, February 10th. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the sale, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,330 shares of company stock worth $6,161,276. 2.11% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Down 0.0 %

IDEXX Laboratories stock opened at $452.77 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. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The firm has a 50 day moving average price of $431.50 and a two-hundred day moving average price of $452.42. The firm has a market cap of $37.08 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 3.39 and a beta of 1.37.

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.