Cannell & Spears LLC Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cannell & Spears LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,171 shares of the company’s stock after selling 399 shares during the quarter. Cannell & Spears LLC’s holdings in IDEXX Laboratories were worth $484,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of IDEXX Laboratories in the 4th quarter valued at approximately $412,258,000. Flossbach Von Storch SE grew its stake in shares of IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after purchasing an additional 464,791 shares in the last quarter. William Blair Investment Management LLC increased its holdings in IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after buying an additional 369,471 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after buying an additional 316,048 shares in the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in IDEXX Laboratories during the 4th quarter worth about $113,104,000. 87.84% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 0.3 %

NASDAQ IDXX opened at $418.57 on Wednesday. The firm’s fifty day moving average is $436.90 and its two-hundred day moving average is $441.45. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm has a market cap of $33.93 billion, a PE ratio of 39.23, a P/E/G ratio of 3.41 and a beta of 1.39.

Insider Buying and Selling

In related news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was 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 of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on IDXX shares. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Bank of America boosted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler boosted their price target 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. Four investment 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.