ExodusPoint Capital Management LP Takes $23.07 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

ExodusPoint Capital Management LP purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 55,793 shares of the company’s stock, valued at approximately $23,067,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $412,258,000. Flossbach Von Storch SE boosted its stake in IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after buying an additional 464,791 shares in the last quarter. William Blair Investment Management LLC raised its stake in IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock worth $174,527,000 after acquiring an additional 369,471 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in IDEXX Laboratories by 265.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Finally, Seilern Investment Management Ltd bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $113,104,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 1.8 %

NASDAQ:IDXX opened at $426.25 on Thursday. The company has a market cap of $34.55 billion, a price-to-earnings ratio of 39.95, a P/E/G ratio of 3.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock’s fifty day moving average price is $436.82 and its two-hundred day moving average price is $441.34. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88.

Insider Activity

In related news, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred 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 directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on IDXX. Bank of America upped their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. 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. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Piper Sandler increased their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Barclays lifted their price objective 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 research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

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.