Zurcher Kantonalbank Zurich Cantonalbank Sells 3,810 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,866 shares of the company’s stock after selling 3,810 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in IDEXX Laboratories were worth $13,175,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the 3rd quarter valued at about $25,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $30,000. Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories in the 3rd quarter valued at about $37,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $31,000. Finally, Kestra Investment Management LLC bought a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $38,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Down 3.3 %

Shares of IDXX stock opened at $412.40 on Thursday. The firm has a 50 day moving average price of $438.09 and a two-hundred day moving average price of $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 company has a market capitalization of $33.54 billion, a PE ratio of 38.65, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $550.24.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, February 7th. The shares were 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 directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was 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.

Analyst Ratings Changes

A number of equities analysts recently commented on IDXX shares. Morgan Stanley reduced their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Piper Sandler lifted 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 lifted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.