IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stock Position Lifted by Suncoast Equity Management

Suncoast Equity Management grew its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,524 shares of the company’s stock after buying an additional 158 shares during the period. Suncoast Equity Management’s holdings in IDEXX Laboratories were worth $630,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IDXX. FSA Wealth Management LLC bought a new stake in IDEXX Laboratories during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the period. Retirement Wealth Solutions LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in IDEXX Laboratories by 750.0% during the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after acquiring an additional 60 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in IDEXX Laboratories in the third quarter worth about $37,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the completion of the transaction, the director now owns 905 shares of the company’s stock, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction 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 sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,330 shares of company stock worth $6,161,276. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Up 0.4 %

IDEXX Laboratories stock opened at $452.89 on Friday. The company’s 50-day moving average price is $431.19 and its two-hundred day moving average price is $452.42. The stock has a market cap of $37.09 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 3.39 and a beta of 1.37. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research reports. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays boosted their price target 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. Morgan Stanley dropped their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Piper Sandler lifted their price objective 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 research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories presently 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.