Destination Wealth Management Makes New $320,000 Investment in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Destination Wealth Management bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 773 shares of the company’s stock, valued at approximately $320,000.

Several other institutional investors have also recently bought and sold shares of the business. Farther Finance Advisors LLC grew its holdings in shares of IDEXX Laboratories by 15.0% during the third quarter. Farther Finance Advisors LLC now owns 805 shares of the company’s stock worth $407,000 after purchasing an additional 105 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of IDEXX Laboratories by 4.8% during the third quarter. QRG Capital Management Inc. now owns 2,107 shares of the company’s stock worth $1,064,000 after purchasing an additional 96 shares during the last quarter. Crestwood Advisors Group LLC bought a new stake in shares of IDEXX Laboratories during the third quarter worth about $226,000. Concurrent Investment Advisors LLC grew its holdings in shares of IDEXX Laboratories by 4.7% during the third quarter. Concurrent Investment Advisors LLC now owns 630 shares of the company’s stock worth $318,000 after purchasing an additional 28 shares during the last quarter. Finally, Graypoint LLC grew its holdings in shares of IDEXX Laboratories by 16.9% during the third quarter. Graypoint LLC now owns 610 shares of the company’s stock worth $308,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the sale, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $430.12 on Friday. The company has a market cap of $34.98 billion, a price-to-earnings ratio of 40.31, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $574.94. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $437.37 and a 200-day moving average of $449.72.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays boosted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. 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. Morgan Stanley decreased their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Leerink Partners started coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $533.75.

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.