King Luther Capital Management Corp Increases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

King Luther Capital Management Corp increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,872 shares of the company’s stock after purchasing an additional 175 shares during the period. King Luther Capital Management Corp’s holdings in IDEXX Laboratories were worth $2,014,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of IDXX. FSA Wealth Management LLC bought a new stake in IDEXX Laboratories during the 3rd quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories during the 4th quarter valued at approximately $30,000. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories in the 4th quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter worth approximately $37,000. Finally, Kestra Investment Management LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on Friday, February 7th. The stock was 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 directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction on 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 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. 2.18% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IDXX shares. Morgan Stanley lowered their price target 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. Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Barclays increased their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Bank of America increased their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $412.40 on Thursday. The stock has a market cap of $33.54 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The firm has a 50-day moving average of $438.09 and a two-hundred day moving average of $448.02. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $550.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

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.