Independent Advisor Alliance Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Independent Advisor Alliance reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,781 shares of the company’s stock after selling 154 shares during the quarter. Independent Advisor Alliance’s holdings in IDEXX Laboratories were worth $736,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 3rd quarter worth $25,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at $38,000. Finally, Crews Bank & Trust bought a new stake in IDEXX Laboratories in the fourth quarter worth $41,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IDXX has been the topic of a number of analyst reports. Barclays boosted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley dropped their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insider Activity at IDEXX Laboratories

In other news, 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 value of $1,397,820.00. Following the transaction, the director now directly 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 SEC, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.18% of the stock is currently owned by corporate insiders.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $415.30 on Monday. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $438.03 and a two-hundred day simple moving average of $446.76. The stock has a market capitalization of $33.78 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 3.41 and a beta of 1.39.

IDEXX Laboratories 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.