Commerce Bank Raises Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Commerce Bank lifted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,388 shares of the company’s stock after purchasing an additional 808 shares during the period. Commerce Bank’s holdings in IDEXX Laboratories were worth $5,122,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Tidal Investments LLC raised its holdings in IDEXX Laboratories by 7.6% during the third quarter. Tidal Investments LLC now owns 6,310 shares of the company’s stock valued at $3,188,000 after acquiring an additional 444 shares during the period. Franklin Resources Inc. lifted its holdings in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares in the last quarter. American Trust bought a new position in IDEXX Laboratories in the 3rd quarter worth approximately $757,000. Oddo BHF Asset Management Sas purchased a new stake in IDEXX Laboratories during the 3rd quarter valued at approximately $1,128,000. Finally, GAMMA Investing LLC raised its position in shares of IDEXX Laboratories by 3.3% during the fourth quarter. GAMMA Investing LLC now owns 1,533 shares of the company’s stock valued at $634,000 after buying an additional 49 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX stock opened at $411.72 on Friday. The stock has a market cap of $33.37 billion, a PE ratio of 38.59, a P/E/G ratio of 3.41 and a beta of 1.50. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $548.88. The company has a 50-day moving average price of $422.37 and a 200 day moving average price of $430.84. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IDXX shares. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. 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 report on Monday, February 10th. Morgan Stanley reduced their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Finally, Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $523.75.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business’s 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 completion of the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.98% 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.