Corient Private Wealth LLC Cuts Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Corient Private Wealth LLC decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 59.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,450 shares of the company’s stock after selling 180,904 shares during the period. Corient Private Wealth LLC owned about 0.15% of IDEXX Laboratories worth $51,866,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Empowered Funds LLC lifted its position in IDEXX Laboratories by 2.8% during the third quarter. Empowered Funds LLC now owns 1,310 shares of the company’s stock valued at $662,000 after purchasing an additional 36 shares during the period. Natixis Advisors LLC raised its stake in IDEXX Laboratories by 8.0% during the 3rd quarter. Natixis Advisors LLC now owns 43,174 shares of the company’s stock valued at $21,812,000 after buying an additional 3,206 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in shares of IDEXX Laboratories by 0.6% during the 3rd quarter. Mutual of America Capital Management LLC now owns 11,240 shares of the company’s stock valued at $5,679,000 after buying an additional 68 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of IDEXX Laboratories by 150.6% in the 3rd quarter. Thrivent Financial for Lutherans now owns 108,258 shares of the company’s stock worth $54,693,000 after buying an additional 65,050 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in shares of IDEXX Laboratories by 4,059.4% in the third quarter. Quest Partners LLC now owns 2,870 shares of the company’s stock worth $1,450,000 after acquiring an additional 2,801 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $422.36 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The firm’s fifty day moving average is $437.89 and its two-hundred day moving average is $446.30. The firm has a market cap of $34.35 billion, a price-to-earnings ratio of 39.58, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on IDXX shares. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Piper Sandler upped their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley cut their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $533.75.

Insider Activity

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 directly 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 filing with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 8,176 shares of the company’s stock, 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. Company insiders own 2.11% of the company’s stock.

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.