IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Purchased by Jensen Investment Management Inc.

Jensen Investment Management Inc. lifted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,020 shares of the company’s stock after purchasing an additional 930 shares during the period. Jensen Investment Management Inc.’s holdings in IDEXX Laboratories were worth $3,729,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in IDXX. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IDXX. Piper Sandler lifted 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. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Barclays raised their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Bank of America raised their target price on shares of 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 decreased their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX stock opened at $415.30 on Monday. 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 stock has a market cap of $33.78 billion, a P/E ratio of 38.92, a P/E/G ratio of 3.41 and a beta of 1.39. The firm has a 50 day simple moving average of $438.03 and a 200 day simple moving average of $446.76. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88.

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.