Alberta Investment Management Corp Boosts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Alberta Investment Management Corp increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 10,900 shares of the company’s stock after purchasing an additional 2,200 shares during the period. Alberta Investment Management Corp’s holdings in IDEXX Laboratories were worth $4,506,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Angeles Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after purchasing an additional 25 shares during the last quarter. Cranbrook Wealth Management LLC raised its stake in IDEXX Laboratories by 7.0% during the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares during the last quarter. Perigon Wealth Management LLC raised its stake in IDEXX Laboratories by 1.8% during the 4th quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after acquiring an additional 26 shares during the last quarter. Summit Trail Advisors LLC raised its stake 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 acquiring an additional 26 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in IDEXX Laboratories by 4.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 704 shares of the company’s stock valued at $356,000 after acquiring an additional 27 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IDXX. Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Morgan Stanley reduced their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Bank of America upped their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX opened at $450.99 on Thursday. The stock has a market cap of $36.93 billion, a P/E ratio of 42.27, a P/E/G ratio of 3.35 and a beta of 1.37. 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 stock’s 50 day simple moving average is $430.91 and its 200 day simple moving average is $452.43. IDEXX Laboratories, Inc. has a 1-year low of $398.50 and a 1-year high of $583.39.

Insider Buying and Selling

In related news, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the 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 owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,330 shares of company stock worth $6,161,276 in the last quarter. Company insiders own 2.18% of the company’s stock.

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.