Clearbridge Investments LLC Cuts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Clearbridge Investments LLC lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 252,128 shares of the company’s stock after selling 90,976 shares during the quarter. Clearbridge Investments LLC’s holdings in IDEXX Laboratories were worth $104,240,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $31,000. Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at $38,000. Finally, Crews Bank & Trust acquired a new position in shares of IDEXX Laboratories during the 4th quarter valued at about $41,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director M Anne Szostak sold 3,000 shares of the stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. 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. Morgan Stanley cut their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, March 25th. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Up 1.0 %

IDXX opened at $419.95 on Tuesday. The firm has a market cap of $34.04 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The business has a 50 day moving average price of $437.08 and a 200 day moving average price of $442.03. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88.

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.