Corebridge Financial Inc. Sells 1,443 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Corebridge Financial Inc. lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 27,912 shares of the company’s stock after selling 1,443 shares during the period. Corebridge Financial Inc.’s holdings in IDEXX Laboratories were worth $11,540,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. KLP Kapitalforvaltning AS bought a new position in shares of IDEXX Laboratories in the 4th quarter worth $15,876,000. American Century Companies Inc. raised its holdings in IDEXX Laboratories by 30.9% during the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock worth $334,810,000 after buying an additional 191,385 shares during the last quarter. Mizuho Securities USA LLC lifted its stake in shares of IDEXX Laboratories by 45.4% in the fourth quarter. Mizuho Securities USA LLC now owns 7,761 shares of the company’s stock valued at $3,209,000 after buying an additional 2,424 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of IDEXX Laboratories by 1,870.5% during the fourth quarter. Quantbot Technologies LP now owns 13,301 shares of the company’s stock valued at $5,499,000 after buying an additional 12,626 shares during the last quarter. Finally, Lee Danner & Bass Inc. bought a new stake in shares of IDEXX Laboratories during the fourth quarter worth about $486,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insiders Place Their Bets

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm’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 sale, the executive vice president now directly owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on 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 completion of the sale, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IDXX shares. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price target for the company. Piper Sandler raised their price objective on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $417.66 on Wednesday. The company has a market capitalization of $33.85 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The company’s 50-day moving average is $437.36 and its 200 day moving average is $444.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a fifty-two week low of $398.50 and a fifty-two week 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.