New Mexico Educational Retirement Board Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

New Mexico Educational Retirement Board lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,950 shares of the company’s stock after selling 100 shares during the period. New Mexico Educational Retirement Board’s holdings in IDEXX Laboratories were worth $1,633,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC increased its stake 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 buying an additional 527,460 shares during the last quarter. Assenagon Asset Management S.A. increased its stake 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 buying an additional 316,048 shares during the last quarter. Seilern Investment Management Ltd bought a new stake in shares of IDEXX Laboratories in the fourth quarter worth $113,104,000. Vontobel Holding Ltd. increased its stake in shares of IDEXX Laboratories by 90.1% in the fourth quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company’s stock worth $173,051,000 after buying an additional 198,404 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC increased its stake in shares of IDEXX Laboratories by 230.1% in the third quarter. Worldquant Millennium Advisors LLC now owns 110,196 shares of the company’s stock worth $55,673,000 after buying an additional 76,809 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IDXX. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays lifted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Bank of America lifted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $533.75.

Insider Activity

In related news, EVP George Fennell sold 9,986 shares of the company’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 completion of the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Sophie V. Vandebroek sold 344 shares of the company’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $420.44, for a total transaction of $144,631.36. Following the completion of the sale, the director now directly owns 905 shares of the company’s stock, valued at $380,498.20. The trade was a 27.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,330 shares of company stock valued at $6,161,276. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $444.53 on Monday. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $583.39. The company has a market cap of $36.40 billion, a price-to-earnings ratio of 41.66, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.31. The firm has a fifty day moving average of $430.95 and a 200-day moving average of $452.96.

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.