Pictet Asset Management Holding SA Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pictet Asset Management Holding SA boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 442,484 shares of the company’s stock after purchasing an additional 83,964 shares during the quarter. Pictet Asset Management Holding SA owned about 0.54% of IDEXX Laboratories worth $182,941,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the 3rd quarter valued at $25,000. Rialto Wealth Management LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories during the fourth quarter valued at about $38,000. Finally, Crews Bank & Trust acquired a new stake in IDEXX Laboratories during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $415.87 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $548.88. The stock has a market cap of $33.71 billion, a P/E ratio of 38.98, a PEG ratio of 3.41 and a beta of 1.39. 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 50-day moving average of $437.07 and a two-hundred day moving average of $443.27.

Insider Activity at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the 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 transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Analyst Ratings Changes

IDXX has been the topic of several research analyst reports. Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Piper Sandler boosted their price objective 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. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays lifted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Finally, Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

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.