Geneva Capital Management LLC Sells 5,890 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Geneva Capital Management LLC cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.0% during the 4th quarter, Holdings Channel reports. The firm owned 43,330 shares of the company’s stock after selling 5,890 shares during the period. Geneva Capital Management LLC’s holdings in IDEXX Laboratories were worth $17,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the third quarter worth approximately $25,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $31,000. Ashton Thomas Securities LLC bought a new position in shares of IDEXX Laboratories during the third quarter worth approximately $37,000. Kestra Investment Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $38,000. Finally, Crews Bank & Trust bought a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $41,000. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IDXX. Morgan Stanley decreased their price objective 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. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued 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 company a “neutral” rating in a research note on Tuesday, February 4th. 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 note on Monday, February 10th. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $437.23 on Thursday. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $574.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The firm has a market capitalization of $35.56 billion, a P/E ratio of 40.98, a P/E/G ratio of 3.41 and a beta of 1.37. The company’s 50 day moving average price is $436.83 and its two-hundred day moving average price is $450.33.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories 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.