IDEXX Laboratories, Inc. (NASDAQ:IDXX) Short Interest Update

IDEXX Laboratories, Inc. (NASDAQ:IDXX) was the target of a large growth in short interest in February. As of February 28th, there was short interest totalling 2,740,000 shares, a growth of 29.9% from the February 13th total of 2,110,000 shares. Based on an average trading volume of 686,900 shares, the days-to-cover ratio is currently 4.0 days. Approximately 3.4% of the company’s stock are short sold.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the business’s 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated 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 approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Institutional Investors Weigh In On IDEXX Laboratories

A number of institutional investors have recently added to or reduced their stakes in IDXX. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the third quarter worth about $25,000. Hurley Capital LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $29,000. Rialto Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $31,000. Finally, Colonial Trust Co SC lifted its holdings in IDEXX Laboratories by 84.8% in the 4th quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock valued at $35,000 after purchasing an additional 39 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

IDXX stock traded down $2.83 during mid-day trading on Tuesday, reaching $419.54. 235,451 shares of the company’s stock were exchanged, compared to its average volume of 548,069. The company has a market cap of $34.12 billion, a price-to-earnings ratio of 39.33, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories has a 12-month low of $398.50 and a 12-month high of $548.88. The stock’s 50 day moving average is $437.89 and its 200 day moving average is $446.30. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Analyst Upgrades and Downgrades

Several research firms have recently commented on IDXX. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler increased their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Barclays lifted 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. Morgan Stanley cut their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Four equities research 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. Based on data from MarketBeat.com, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

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.