Oarsman Capital Inc. Lowers Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Oarsman Capital Inc. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 446 shares of the company’s stock after selling 43 shares during the period. Oarsman Capital Inc.’s holdings in IDEXX Laboratories were worth $184,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock valued at $948,279,000 after purchasing an additional 37,734 shares during the period. Franklin Resources Inc. lifted its holdings in IDEXX Laboratories by 2.5% during the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after buying an additional 34,305 shares during the period. Norges Bank bought a new stake in IDEXX Laboratories during the 4th quarter valued at $412,258,000. American Century Companies Inc. raised its position in shares of IDEXX Laboratories by 30.9% in the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock worth $334,810,000 after acquiring an additional 191,385 shares in the last quarter. Finally, Amundi boosted its position in IDEXX Laboratories by 8.1% during the fourth quarter. Amundi now owns 758,669 shares of the company’s stock valued at $328,018,000 after purchasing an additional 56,837 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Buying and Selling at IDEXX Laboratories

In related news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated 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 completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on IDXX shares. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday. Barclays raised their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler lifted their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $393.73 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The company has a 50 day moving average price of $435.55 and a 200-day moving average price of $439.81. IDEXX Laboratories, Inc. has a 1-year low of $393.50 and a 1-year high of $548.88. The firm has a market cap of $31.91 billion, a price-to-earnings ratio of 36.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39.

IDEXX Laboratories 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.