Banque Pictet & Cie SA Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Banque Pictet & Cie SA reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,038 shares of the company’s stock after selling 535 shares during the period. Banque Pictet & Cie SA’s holdings in IDEXX Laboratories were worth $1,256,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Creative Planning lifted its holdings in IDEXX Laboratories by 2.6% in the third quarter. Creative Planning now owns 24,436 shares of the company’s stock worth $12,346,000 after buying an additional 614 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in shares of IDEXX Laboratories by 19.0% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,306 shares of the company’s stock valued at $1,670,000 after purchasing an additional 529 shares in the last quarter. Bleakley Financial Group LLC increased its stake in shares of IDEXX Laboratories by 1.4% during the third quarter. Bleakley Financial Group LLC now owns 2,861 shares of the company’s stock valued at $1,445,000 after purchasing an additional 39 shares in the last quarter. Marshall Financial Group LLC increased its stake in shares of IDEXX Laboratories by 1.6% during the third quarter. Marshall Financial Group LLC now owns 1,884 shares of the company’s stock valued at $952,000 after purchasing an additional 30 shares in the last quarter. Finally, Cardinal Capital Management increased its stake in shares of IDEXX Laboratories by 0.7% during the third quarter. Cardinal Capital Management now owns 13,919 shares of the company’s stock valued at $7,032,000 after purchasing an additional 93 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on IDXX shares. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Bank of America raised their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Morgan Stanley reduced their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Barclays raised their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Piper Sandler raised their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $533.75.

Insider Buying and Selling

In other IDEXX Laboratories 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 value of $1,397,820.00. Following the sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,330 shares of company stock valued at $6,161,276. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 3.3 %

Shares of IDEXX Laboratories stock opened at $444.53 on Friday. The company has a market capitalization of $36.40 billion, a P/E ratio of 41.66, a P/E/G ratio of 3.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.31. The company has a fifty day moving average of $430.77 and a 200 day moving average of $453.31. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

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.