Sei Investments Co. Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sei Investments Co. trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 48.0% in the 4th quarter, Holdings Channel reports. The firm owned 34,456 shares of the company’s stock after selling 31,743 shares during the period. Sei Investments Co.’s holdings in IDEXX Laboratories were worth $14,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at $25,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth $30,000. Retirement Wealth Solutions LLC bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories during the fourth quarter valued at $38,000. Finally, Crews Bank & Trust bought a new position in IDEXX Laboratories in the fourth quarter valued at about $41,000. Institutional investors own 87.84% of the company’s stock.

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, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on IDXX shares. Bank of America boosted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Finally, Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $415.87 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The stock’s 50-day simple moving average is $437.07 and its 200-day simple moving average is $443.27. The company has a market capitalization of $33.71 billion, a price-to-earnings ratio of 38.98, a PEG ratio of 3.41 and a beta of 1.39.

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.