OFI Invest Asset Management Takes Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

OFI Invest Asset Management purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,735 shares of the company’s stock, valued at approximately $1,891,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories during the third quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories during the 4th quarter valued at $31,000. Ashton Thomas Securities LLC bought a new stake in IDEXX Laboratories in the 3rd quarter valued at $37,000. Finally, Kestra Investment Management LLC bought a new stake in IDEXX Laboratories in the 4th quarter valued at $38,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $430.12 on Monday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $562.25. The company has a market cap of $34.98 billion, a P/E ratio of 40.31, a P/E/G ratio of 3.41 and a beta of 1.39. The firm’s fifty day moving average price is $437.37 and its two-hundred day moving average price is $449.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday. Piper Sandler raised their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Morgan Stanley cut their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Four research 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the company’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 completion of the sale, the director now owns 3,061 shares of the company’s stock, 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 SEC, which is available through the SEC website. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Company 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.