Wellington Management Group LLP Buys 120,558 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wellington Management Group LLP lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 161.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,369 shares of the company’s stock after acquiring an additional 120,558 shares during the period. Wellington Management Group LLP owned approximately 0.24% of IDEXX Laboratories worth $80,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth about $31,000. Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at approximately $38,000. Crews Bank & Trust bought a new stake in IDEXX Laboratories in the 4th quarter valued at approximately $41,000. Finally, BankPlus Trust Department acquired a new position in IDEXX Laboratories during the 4th quarter worth approximately $60,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Trading Down 4.1 %

Shares of IDEXX Laboratories stock opened at $393.73 on Friday. 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 business has a fifty day simple moving average of $435.55 and a two-hundred day simple moving average of $440.31. IDEXX Laboratories, Inc. has a 1 year low of $393.50 and a 1 year high of $548.88. The company has a market capitalization of $31.91 billion, a price-to-earnings ratio of 36.90, a P/E/G ratio of 3.41 and a beta of 1.39.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on IDXX. 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 research report on Wednesday, January 29th. Piper Sandler lifted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Barclays upped their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Bank of America increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the sale, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

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.