Alta Capital Management LLC Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Alta Capital Management LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,925 shares of the company’s stock after selling 484 shares during the quarter. Alta Capital Management LLC’s holdings in IDEXX Laboratories were worth $8,651,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. increased its position in shares of IDEXX Laboratories by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,692 shares of the company’s stock worth $219,823,000 after acquiring an additional 16,213 shares during the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of IDEXX Laboratories by 9.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,436 shares of the company’s stock worth $1,007,000 after acquiring an additional 218 shares during the last quarter. Schechter Investment Advisors LLC increased its position in shares of IDEXX Laboratories by 8.5% during the fourth quarter. Schechter Investment Advisors LLC now owns 496 shares of the company’s stock worth $205,000 after acquiring an additional 39 shares during the last quarter. Plato Investment Management Ltd increased its position in shares of IDEXX Laboratories by 57.2% during the fourth quarter. Plato Investment Management Ltd now owns 2,252 shares of the company’s stock worth $934,000 after acquiring an additional 819 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in IDEXX Laboratories in the fourth quarter valued at about $97,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $437.15 on Tuesday. The stock has a market capitalization of $35.55 billion, a P/E ratio of 40.97, a P/E/G ratio of 3.41 and a beta of 1.37. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $580.18. The business’s fifty day moving average is $435.79 and its two-hundred day moving average is $450.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the stock in a transaction on Friday, February 7th. The stock was 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 $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction on 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 completion of the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

IDXX has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on 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 boosted their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Barclays boosted their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Finally, Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average 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.