abrdn plc Lowers Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

abrdn plc lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 242,659 shares of the company’s stock after selling 16,038 shares during the period. abrdn plc owned approximately 0.30% of IDEXX Laboratories worth $100,012,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Geode Capital Management LLC increased its position in shares of IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after acquiring an additional 40,349 shares in the last quarter. Franklin Resources Inc. increased its position in shares of IDEXX Laboratories by 2.5% in the third quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after acquiring an additional 34,305 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company’s stock worth $379,875,000 after acquiring an additional 2,463 shares in the last quarter. International Assets Investment Management LLC increased its position in shares of IDEXX Laboratories by 52,746.0% in the third quarter. International Assets Investment Management LLC now owns 528,460 shares of the company’s stock worth $2,669,890,000 after acquiring an additional 527,460 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of IDEXX Laboratories by 265.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 11.1 %

NASDAQ IDXX opened at $469.04 on Tuesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a market capitalization of $38.41 billion, a price-to-earnings ratio of 45.23, a price-to-earnings-growth ratio of 3.64 and a beta of 1.37. The company’s fifty day moving average price is $424.12 and its two-hundred day moving average price is $453.55.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the transaction, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. This trade represents a 27.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.18% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

IDXX has been the subject of several recent research reports. Piper Sandler reissued a “neutral” rating and issued a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. lowered their price target on shares of IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a report on Friday, October 11th. Barclays lowered their price target on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, November 28th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus price target of $517.29.

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.