Parnassus Investments LLC Has $19.99 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Parnassus Investments LLC cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,347 shares of the company’s stock after selling 636 shares during the period. Parnassus Investments LLC owned 0.06% of IDEXX Laboratories worth $19,989,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Flossbach Von Storch SE lifted its stake in IDEXX Laboratories by 5,439.3% in the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after acquiring an additional 464,791 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock valued at $179,867,000 after purchasing an additional 316,048 shares in the last quarter. Seilern Investment Management Ltd bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at $113,104,000. Vontobel Holding Ltd. lifted its stake in shares of IDEXX Laboratories by 90.1% in the 4th quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company’s stock valued at $173,051,000 after purchasing an additional 198,404 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in IDEXX Laboratories in the fourth quarter worth $71,893,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director M Anne Szostak sold 3,000 shares of the business’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 owns 3,061 shares of the company’s stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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 value of $4,618,824.58. Following the completion of the sale, the executive vice president now owns 8,176 shares in the company, 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. 2.18% of the stock is currently owned by company insiders.

IDEXX Laboratories Trading Down 1.5 %

IDEXX Laboratories stock opened at $406.29 on Friday. The business has a 50 day moving average price of $438.04 and a two-hundred day moving average price of $447.73. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88. The stock has a market cap of $33.04 billion, a price-to-earnings ratio of 38.08, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Piper Sandler upped their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partners started coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective for the company. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating, six have given 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 price target 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.