Tandem Investment Advisors Inc. Buys New Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Tandem Investment Advisors Inc. acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,865 shares of the company’s stock, valued at approximately $1,598,000.

Several other large investors have also modified their holdings of IDXX. Whittier Trust Co. grew its holdings in shares of IDEXX Laboratories by 10.1% during the third quarter. Whittier Trust Co. now owns 1,673 shares of the company’s stock worth $845,000 after buying an additional 153 shares during the last quarter. Eastern Bank purchased a new stake in IDEXX Laboratories in the 3rd quarter valued at approximately $90,000. Lecap Asset Management Ltd. acquired a new position in IDEXX Laboratories during the third quarter worth $419,000. Commerzbank Aktiengesellschaft FI grew its stake in shares of IDEXX Laboratories by 25.7% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 656 shares of the company’s stock worth $332,000 after purchasing an additional 134 shares during the period. Finally, International Assets Investment Management LLC boosted its holdings in IDEXX Laboratories by 52,746.0% during the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after buying an additional 527,460 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on IDXX. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Piper Sandler lifted their price objective on 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 IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Finally, Barclays upped their price objective 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. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

IDXX stock opened at $452.89 on Friday. The stock has a 50-day moving average price of $431.19 and a two-hundred day moving average price of $452.42. The company has a market cap of $37.09 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 3.38 and a beta of 1.37. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $583.39. 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 Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total transaction of $144,631.36. Following the transaction, the director now directly owns 905 shares of the company’s stock, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,330 shares of company stock valued at $6,161,276 over the last ninety days. 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.