Cannell & Spears LLC Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Cannell & Spears LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,171 shares of the company’s stock after selling 399 shares during the quarter. Cannell & Spears LLC’s holdings in IDEXX Laboratories were worth $484,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. Insight Wealth Strategies LLC boosted its stake in shares of IDEXX Laboratories by 230.5% during the 4th quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock worth $4,174,000 after acquiring an additional 7,041 shares in the last quarter. Geode Capital Management LLC raised its holdings in IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after purchasing an additional 40,349 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in IDEXX Laboratories during the third quarter worth $1,263,000. Sax Wealth Advisors LLC grew its holdings in IDEXX Laboratories by 76.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock valued at $590,000 after purchasing an additional 617 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in shares of IDEXX Laboratories by 11.5% in the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock valued at $3,199,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IDXX shares. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, February 4th. Morgan Stanley dropped their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Bank of America boosted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average target price of $533.75.

IDEXX Laboratories Stock Performance

IDEXX Laboratories stock opened at $418.57 on Wednesday. The stock has a fifty day moving average price of $436.90 and a 200 day moving average price of $441.45. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The firm has a market capitalization of $33.93 billion, a P/E ratio of 39.23, a PEG ratio of 3.41 and a beta of 1.39. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Insider Activity

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

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.