Penobscot Investment Management Company Inc. Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Penobscot Investment Management Company Inc. lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 740 shares of the company’s stock after selling 176 shares during the period. Penobscot Investment Management Company Inc.’s holdings in IDEXX Laboratories were worth $306,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories in the third quarter valued at $25,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at about $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth about $38,000. Finally, Crews Bank & Trust bought a new stake in IDEXX Laboratories in the fourth quarter worth about $41,000. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction on 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 directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction dated 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 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 disclosure for this sale can be found here. 2.11% of the stock is owned by company insiders.

IDEXX Laboratories Price Performance

Shares of IDXX opened at $417.71 on Thursday. 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 company has a 50 day moving average price of $437.26 and a 200-day moving average price of $443.87. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $548.88. The stock has a market capitalization of $33.86 billion, a PE ratio of 39.15, a PEG ratio of 3.41 and a beta of 1.39.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IDXX shares. Leerink Partners assumed coverage on IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target on the stock. Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Barclays boosted their target price 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 downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley lowered 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 report on Wednesday, January 29th. 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.