Meiji Yasuda Life Insurance Co lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,139 shares of the company’s stock after selling 561 shares during the period. Meiji Yasuda Life Insurance Co’s holdings in IDEXX Laboratories were worth $478,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $148,632,000. FMR LLC increased its position in shares of IDEXX Laboratories by 120.7% during the fourth quarter. FMR LLC now owns 561,266 shares of the company’s stock valued at $104,407,000 after acquiring an additional 306,919 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of IDEXX Laboratories by 58.8% during the fourth quarter. Principal Financial Group Inc. now owns 787,832 shares of the company’s stock valued at $146,551,000 after acquiring an additional 291,795 shares during the last quarter. BlackRock Inc. increased its position in IDEXX Laboratories by 4.6% in the fourth quarter. BlackRock Inc. now owns 6,549,022 shares of the company’s stock worth $1,218,251,000 after buying an additional 289,208 shares during the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new stake in IDEXX Laboratories in the first quarter worth $42,808,000. 87.76% of the stock is owned by institutional investors.
IDXX opened at $266.77 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $176.11 and a fifty-two week high of $271.34. The company has a debt-to-equity ratio of 14.81, a current ratio of 1.01 and a quick ratio of 0.74. The firm has a market capitalization of $22.99 billion, a price-to-earnings ratio of 62.95 and a beta of 0.84.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,600 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $250.14, for a total value of $650,364.00. Following the transaction, the insider now directly owns 12,595 shares in the company, valued at approximately $3,150,513.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jonathan W. Ayers sold 28,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $249.02, for a total transaction of $6,972,560.00. The disclosure for this sale can be found here. Insiders sold a total of 50,721 shares of company stock worth $12,554,774 over the last quarter. 2.70% of the stock is currently owned by company insiders.
IDXX has been the subject of a number of analyst reports. Canaccord Genuity cut their price target on IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Guggenheim began coverage on IDEXX Laboratories in a research note on Thursday, May 23rd. They set a “buy” rating and a $276.00 price target for the company. Finally, Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price objective on the stock in a report on Friday, May 3rd. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $256.71.
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IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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