Arcadia Investment Management Corp MI Decreases Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arcadia Investment Management Corp MI lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 56.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,109 shares of the company’s stock after selling 1,452 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in IDEXX Laboratories were worth $459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FSA Wealth Management LLC purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings 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 purchasing an additional 57 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 750.0% during the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock valued at $34,000 after purchasing an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other 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 sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,330 shares of company stock worth $6,161,276. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $452.89 on Friday. The stock has a 50-day simple moving average of $431.19 and a two-hundred day simple moving average of $452.42. The firm has a market capitalization of $37.09 billion, a P/E ratio of 42.45, a PEG ratio of 3.39 and a beta of 1.37. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week high of $583.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IDXX. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Morgan Stanley reduced their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research note on Wednesday, January 29th. Piper Sandler raised 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. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Finally, Barclays raised their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

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.