Voleon Capital Management LP Invests $3.43 Million in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Voleon Capital Management LP acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, Holdings Channel.com reports. The fund acquired 8,303 shares of the company’s stock, valued at approximately $3,433,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hurley Capital LLC purchased a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $29,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the fourth quarter worth $30,000. Retirement Wealth Solutions LLC purchased a new stake in IDEXX Laboratories in the fourth quarter worth $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the fourth quarter worth $38,000. Finally, Crews Bank & Trust bought a new position in IDEXX Laboratories during the 4th quarter worth about $41,000. 87.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of IDEXX Laboratories from $450.00 to $420.00 and set a “hold” rating on the stock in a report on Monday, April 14th. Barclays raised their price target 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. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Saturday, April 12th. Bank of America raised their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, IDEXX Laboratories presently has an average rating of “Moderate Buy” and a consensus price target of $523.75.

IDEXX Laboratories Stock Up 0.7 %

IDXX stock opened at $436.97 on Wednesday. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 40.95, a PEG ratio of 3.41 and a beta of 1.50. The company has a 50 day moving average of $419.27 and a two-hundred day moving average of $428.56. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the firm’s 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 owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Corporate 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.