Concurrent Investment Advisors LLC Acquires 231 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Concurrent Investment Advisors LLC boosted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 861 shares of the company’s stock after purchasing an additional 231 shares during the period. Concurrent Investment Advisors LLC’s holdings in IDEXX Laboratories were worth $356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDXX. FSA Wealth Management LLC bought a new position in IDEXX Laboratories during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its stake in IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the period. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories during the fourth quarter worth about $31,000. Ashton Thomas Securities LLC bought a new position in IDEXX Laboratories during the third quarter worth about $37,000. Finally, Kestra Investment Management LLC bought a new position in IDEXX Laboratories during the fourth quarter worth about $38,000. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $463.66 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The firm has a market cap of $37.97 billion, a P/E ratio of 43.45, a P/E/G ratio of 3.41 and a beta of 1.37. The firm has a 50 day simple moving average of $432.58 and a 200 day simple moving average of $452.04. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. 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 over the last quarter. Corporate insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on IDXX. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler lifted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $533.75.

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.