Blue Trust Inc. Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Blue Trust Inc. lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 83.6% in the fourth quarter, HoldingsChannel reports. The firm owned 255 shares of the company’s stock after selling 1,296 shares during the period. Blue Trust Inc.’s holdings in IDEXX Laboratories were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Angeles Wealth Management LLC grew its position in shares of IDEXX Laboratories by 2.4% during the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after acquiring an additional 25 shares during the period. Cranbrook Wealth Management LLC boosted its position in shares of IDEXX Laboratories by 7.0% during the fourth quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock worth $158,000 after acquiring an additional 25 shares during the last quarter. Perigon Wealth Management LLC grew its position in shares of IDEXX Laboratories by 1.8% during 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 in the last quarter. Summit Trail Advisors LLC grew its holdings in IDEXX Laboratories by 3.3% during the 4th quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after buying an additional 26 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its holdings in shares of 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 in the last quarter. Institutional investors own 87.84% of the company’s stock.

Insider Activity

In other news, Director M Anne Szostak sold 3,000 shares of the business’s 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 sale, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,330 shares of company stock valued at $6,161,276 in the last three months. 2.11% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $452.77 on Friday. The firm has a market capitalization of $37.08 billion, a P/E ratio of 42.43, a PEG ratio of 3.41 and a beta of 1.37. The stock has a 50-day simple moving average of $431.92 and a two-hundred day simple moving average of $452.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

Analysts Set New Price Targets

Several research firms have recently weighed in on IDXX. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Leerink Partners started coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Bank of America lifted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four equities research 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 company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target 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.