Howe & Rusling Inc. Acquires New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Howe & Rusling Inc. bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,931 shares of the company’s stock, valued at approximately $2,866,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Cranbrook Wealth Management LLC increased its holdings in shares of IDEXX Laboratories by 7.0% in the 4th quarter. Cranbrook Wealth Management LLC now owns 382 shares of the company’s stock valued at $158,000 after acquiring an additional 25 shares during the period. Perigon Wealth Management LLC grew its stake in IDEXX Laboratories by 1.8% in the fourth quarter. Perigon Wealth Management LLC now owns 1,474 shares of the company’s stock valued at $632,000 after purchasing an additional 26 shares during the last quarter. Summit Trail Advisors LLC grew its stake in IDEXX Laboratories by 3.3% in the fourth quarter. Summit Trail Advisors LLC now owns 810 shares of the company’s stock valued at $335,000 after purchasing an additional 26 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in IDEXX Laboratories by 4.4% in the third quarter. Brown Brothers Harriman & Co. now owns 743 shares of the company’s stock worth $375,000 after purchasing an additional 31 shares in the last quarter. Finally, IFP Advisors Inc lifted its position in shares of IDEXX Laboratories by 3.6% during the fourth quarter. IFP Advisors Inc now owns 903 shares of the company’s stock valued at $373,000 after buying an additional 31 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent analyst reports. Morgan Stanley reduced their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Bank of America upped 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. Leerink Partners began coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Up 0.0 %

IDXX stock opened at $417.71 on Thursday. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88. The firm has a market cap of $33.86 billion, a PE ratio of 39.15, a PEG ratio of 3.41 and a beta of 1.39. The firm’s 50 day moving average price is $437.26 and its 200-day moving average price is $443.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Activity

In related news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, the director now directly owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction dated 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 in the company, valued at $3,781,645.28. This 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 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.