Envestnet Asset Management Inc. Lowers Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Envestnet Asset Management Inc. decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 149,574 shares of the company’s stock after selling 43,142 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.18% of IDEXX Laboratories worth $61,840,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Centiva Capital LP bought a new position in shares of IDEXX Laboratories during the third quarter worth $211,000. Wellington Management Group LLP boosted its position in shares of IDEXX Laboratories by 35.7% during the third quarter. Wellington Management Group LLP now owns 74,811 shares of the company’s stock worth $37,796,000 after acquiring an additional 19,663 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in IDEXX Laboratories by 16.4% during the third quarter. Orion Portfolio Solutions LLC now owns 4,152 shares of the company’s stock valued at $2,098,000 after purchasing an additional 584 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in IDEXX Laboratories during the third quarter valued at $1,263,000. Finally, M&T Bank Corp lifted its position in IDEXX Laboratories by 1.6% during the third quarter. M&T Bank Corp now owns 5,693 shares of the company’s stock valued at $2,876,000 after purchasing an additional 92 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 10.0 %

IDXX stock opened at $397.10 on Thursday. The company’s 50 day moving average price is $431.26 and its 200 day moving average price is $435.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $548.88. The firm has a market capitalization of $32.18 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 3.41 and a beta of 1.50.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction 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 completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at $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.

Analysts Set New Price Targets

Several equities analysts have commented on IDXX shares. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, April 4th. Piper Sandler increased their price objective 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. Morgan Stanley reduced 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 note on Wednesday, January 29th. Bank of America increased their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

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.