IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,955 shares of the company’s stock after selling 700 shares during the quarter. State of Michigan Retirement System owned approximately 0.05% of IDEXX Laboratories worth $16,932,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. Geode Capital Management LLC boosted its holdings in shares of IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after acquiring an additional 40,349 shares during the period. Franklin Resources Inc. grew its position in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after purchasing an additional 34,305 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake 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 valued at $379,875,000 after purchasing an additional 2,463 shares during the period. Flossbach Von Storch SE raised its holdings in shares of IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock valued at $195,696,000 after buying an additional 464,791 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of IDEXX Laboratories by 265.6% during 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 period. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction dated 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 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. The trade was a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Up 1.0 %

NASDAQ IDXX opened at $441.61 on Wednesday. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $574.94. The company has a market capitalization of $35.92 billion, a P/E ratio of 41.39, a PEG ratio of 3.41 and a beta of 1.37. The company’s 50 day simple moving average is $436.35 and its 200 day simple moving average is $450.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Analyst Ratings Changes

Several analysts have weighed in on the company. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Leerink Partners started coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Morgan Stanley dropped their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Finally, Piper Sandler increased their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

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.