William Blair Investment Management LLC Acquires 369,471 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

William Blair Investment Management LLC lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 701.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 422,133 shares of the company’s stock after buying an additional 369,471 shares during the period. William Blair Investment Management LLC owned about 0.52% of IDEXX Laboratories worth $174,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in IDXX. Aptus Capital Advisors LLC lifted its stake in shares of IDEXX Laboratories by 19.4% in the third quarter. Aptus Capital Advisors LLC now owns 629 shares of the company’s stock worth $318,000 after buying an additional 102 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of IDEXX Laboratories by 5.5% in the third quarter. CIBC Asset Management Inc now owns 25,578 shares of the company’s stock worth $12,923,000 after buying an additional 1,338 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of IDEXX Laboratories by 2.8% in the third quarter. Empowered Funds LLC now owns 1,310 shares of the company’s stock worth $662,000 after buying an additional 36 shares in the last quarter. Coastline Trust Co bought a new position in shares of IDEXX Laboratories in the third quarter worth approximately $71,000. Finally, Mizuho Securities USA LLC lifted its stake in shares of IDEXX Laboratories by 175.1% in the third quarter. Mizuho Securities USA LLC now owns 17,520 shares of the company’s stock worth $8,851,000 after buying an additional 11,152 shares in the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, Director M Anne Szostak sold 3,000 shares of the company’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 owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Stock Performance

IDXX opened at $415.30 on Monday. The firm has a market cap of $33.78 billion, a P/E ratio of 38.92, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $548.88. The company has a 50 day simple moving average of $438.03 and a two-hundred day simple moving average of $446.76. 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

Several research analysts have recently weighed in on the stock. Barclays boosted 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. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Bank of America upped their target price 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. Morgan Stanley reduced their target price 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. Finally, Piper Sandler upped their target price 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. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

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.