Royal London Asset Management Ltd. Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Royal London Asset Management Ltd. trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 88,154 shares of the company’s stock after selling 14,918 shares during the period. Royal London Asset Management Ltd.’s holdings in IDEXX Laboratories were worth $36,446,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter valued at about $25,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $31,000. Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $38,000. Finally, Crews Bank & Trust acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $41,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.

IDEXX Laboratories Price Performance

IDXX opened at $420.62 on Friday. The company’s 50 day simple moving average is $437.30 and its 200 day simple moving average is $445.53. 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 1 year low of $398.50 and a 1 year high of $548.88. The stock has a market capitalization of $34.21 billion, a PE ratio of 39.42, a P/E/G ratio of 3.41 and a beta of 1.39.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on IDXX shares. Barclays raised 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. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. 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 price target on the stock. Finally, Bank of America raised their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Four equities research 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.