IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by ING Groep NV

ING Groep NV lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 32.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,338 shares of the company’s stock after selling 5,416 shares during the quarter. ING Groep NV’s holdings in IDEXX Laboratories were worth $4,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of IDXX. FSA Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth approximately $37,000. Finally, Kestra Investment Management LLC purchased a new position in IDEXX Laboratories in the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. 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 note on Monday, February 10th. Finally, Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

Insider Buying and Selling

In related 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 transaction of $4,618,824.58. Following the sale, the executive vice president now owns 8,176 shares in the company, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 13,330 shares of company stock worth $6,161,276 over the last quarter. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $452.77 on Friday. The firm has a market cap of $37.08 billion, a PE ratio of 42.43, a price-to-earnings-growth ratio of 3.39 and a beta of 1.37. The firm’s 50-day simple moving average is $431.50 and its 200-day simple moving average is $452.42. 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 1 year low of $398.50 and a 1 year high of $583.39.

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.