Harvest Fund Management Co. Ltd Grows Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Harvest Fund Management Co. Ltd boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 27.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,819 shares of the company’s stock after purchasing an additional 1,028 shares during the period. Harvest Fund Management Co. Ltd’s holdings in IDEXX Laboratories were worth $1,947,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of IDXX. Flossbach Von Storch SE increased its stake in IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after purchasing an additional 464,791 shares in the last quarter. William Blair Investment Management LLC increased its stake in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after purchasing an additional 369,471 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in IDEXX Laboratories by 265.6% in 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 purchased a new position in IDEXX Laboratories in the 4th quarter valued at approximately $113,104,000. Finally, Vontobel Holding Ltd. increased its stake in 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 in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on IDXX shares. Barclays raised their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Piper Sandler raised their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Morgan Stanley dropped 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. Bank of America raised their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 4th. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $533.75.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories 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 transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

IDXX stock opened at $422.15 on Thursday. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88. The stock’s fifty day simple moving average is $437.54 and its 200-day simple moving average is $445.70. 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 stock has a market capitalization of $34.33 billion, a price-to-earnings ratio of 39.56, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39.

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.