IDEXX Laboratories, Inc. (NASDAQ:IDXX) Holdings Trimmed by Summit Asset Management LLC

Summit Asset Management LLC lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,785 shares of the company’s stock after selling 50 shares during the period. Summit Asset Management LLC’s holdings in IDEXX Laboratories were worth $3,219,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after buying an additional 57 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $37,000. Retirement Wealth Solutions LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $31,000. Finally, Kestra Investment Management LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP George Fennell sold 9,986 shares of the business’s 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 transaction, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,330 shares of company stock valued at $6,161,276 in the last quarter. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 0.0 %

IDEXX Laboratories stock opened at $452.77 on Friday. The firm has a market cap of $37.08 billion, a price-to-earnings ratio of 42.43, a P/E/G ratio of 3.41 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The firm has a fifty day moving average price of $431.92 and a two-hundred day moving average price of $452.28.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IDXX. 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. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays lifted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.