IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 442,484 shares of the company’s stock after acquiring an additional 83,964 shares during the period. Pictet Asset Management Holding SA’s holdings in IDEXX Laboratories were worth $182,941,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at about $412,258,000. Caisse Des Depots ET Consignations bought a new position in IDEXX Laboratories in the fourth quarter worth about $637,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in IDEXX Laboratories by 2.5% in the fourth quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 3,390 shares of the company’s stock valued at $1,402,000 after acquiring an additional 84 shares during the period. Howe & Rusling Inc. bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $2,866,000. Finally, NEOS Investment Management LLC raised its position in shares of IDEXX Laboratories by 14.8% during the 4th quarter. NEOS Investment Management LLC now owns 7,014 shares of the company’s stock worth $2,900,000 after purchasing an additional 904 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX opened at $415.87 on Friday. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $548.88. The firm has a market cap of $33.71 billion, a P/E ratio of 38.98, a PEG ratio of 3.41 and a beta of 1.39. The stock has a fifty day moving average price of $437.07 and a two-hundred day moving average price of $443.27. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the firm’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 sale, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IDXX shares. Leerink Partners initiated coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Piper Sandler upped their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. Bank of America upped their target price 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. Finally, Morgan Stanley cut their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

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.