King Luther Capital Management Corp Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

King Luther Capital Management Corp lifted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,872 shares of the company’s stock after acquiring an additional 175 shares during the period. King Luther Capital Management Corp’s holdings in IDEXX Laboratories were worth $2,014,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in IDEXX Laboratories in the third quarter worth about $25,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in IDEXX Laboratories during the third quarter valued at approximately $37,000. Finally, Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $38,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.18% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on IDXX shares. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Bank of America upped 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. Finally, Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $412.40 on Thursday. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $550.24. The business’s 50 day moving average price is $438.09 and its 200 day moving average price is $448.02. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a market cap of $33.54 billion, a P/E ratio of 38.65, a P/E/G ratio of 3.41 and a beta of 1.39.

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.