Alta Capital Management LLC Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Alta Capital Management LLC decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,925 shares of the company’s stock after selling 484 shares during the period. Alta Capital Management LLC’s holdings in IDEXX Laboratories were worth $8,651,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories during the third quarter worth $25,000. Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories during the fourth quarter worth $31,000. Ashton Thomas Securities LLC purchased a new position in IDEXX Laboratories during the third quarter worth $37,000. Kestra Investment Management LLC purchased a new position in IDEXX Laboratories during the fourth quarter worth $38,000. Finally, Crews Bank & Trust purchased a new position in IDEXX Laboratories during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of several analyst reports. 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. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Leerink Partners initiated coverage on IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Finally, Piper Sandler raised 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. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the business’s 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 transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $437.15 on Tuesday. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $580.18. The stock has a market capitalization of $35.55 billion, a P/E ratio of 40.97, a PEG ratio of 3.41 and a beta of 1.37. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The business’s fifty day moving average price is $435.79 and its 200 day moving average price is $450.78.

IDEXX Laboratories 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.