Daiwa Securities Group Inc. Boosts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Daiwa Securities Group Inc. boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 17,748 shares of the company’s stock after buying an additional 1,286 shares during the period. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $7,338,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories in the third quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in IDEXX Laboratories in the third quarter valued at approximately $37,000. Finally, Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders own 2.18% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $426.69 on Wednesday. The firm has a market cap of $34.70 billion, a price-to-earnings ratio of 39.99, a PEG ratio of 3.41 and a beta of 1.39. The stock has a 50 day moving average of $438.11 and a 200-day moving average of $448.27. The company has a current ratio of 1.31, a quick ratio of 0.95 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 $552.20.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Piper Sandler increased 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. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, March 7th. Bank of America upped their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Finally, Barclays upped 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 investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average 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.