Mitsubishi UFJ Trust & Banking Corp Sells 2,762 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.3% in the fourth quarter, HoldingsChannel reports. The fund owned 49,478 shares of the company’s stock after selling 2,762 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in IDEXX Laboratories were worth $20,456,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in IDXX. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories in the 3rd quarter worth $25,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $30,000. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories in the fourth quarter worth about $31,000. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at about $38,000. Finally, Crews Bank & Trust purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $41,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of several recent research reports. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a report 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 target on the stock. Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, 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 note on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Price Performance

IDXX stock opened at $422.54 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $548.88. The firm has a 50-day moving average of $437.13 and a 200 day moving average of $443.72. The company has a market cap of $34.25 billion, a P/E ratio of 39.60, a PEG ratio of 3.41 and a beta of 1.39.

Insiders Place Their Bets

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on 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. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the 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 transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories 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.