Promus Capital LLC Invests $604,000 in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Promus Capital LLC bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,461 shares of the company’s stock, valued at approximately $604,000. IDEXX Laboratories makes up about 0.6% of Promus Capital LLC’s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cranbrook Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after buying an additional 25 shares during the last quarter. Perigon Wealth Management LLC lifted its stake in IDEXX Laboratories by 1.8% in the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after purchasing an additional 26 shares during the last quarter. Summit Trail Advisors LLC lifted its stake in IDEXX Laboratories by 3.3% in the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after purchasing an additional 26 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in IDEXX Laboratories by 4.0% in the third quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after purchasing an additional 27 shares during the last quarter. Finally, Concurrent Investment Advisors LLC lifted its stake in IDEXX Laboratories by 4.7% in the third quarter. Concurrent Investment Advisors LLC now owns 630 shares of the company’s stock valued at $318,000 after purchasing an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on IDXX shares. Morgan Stanley dropped their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective on the stock. Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Finally, Bank of America boosted 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. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $533.75.

Insider Transactions at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Trading Down 1.0 %

IDEXX Laboratories stock opened at $437.23 on Thursday. The stock has a market cap of $35.56 billion, a P/E ratio of 40.98, a PEG ratio of 3.41 and a beta of 1.37. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $574.94. The firm’s fifty day moving average price is $436.83 and its 200-day moving average price is $450.33. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

About IDEXX Laboratories

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.