US Bancorp DE Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

US Bancorp DE trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,619 shares of the company’s stock after selling 1,545 shares during the period. US Bancorp DE’s holdings in IDEXX Laboratories were worth $6,871,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the company. Flossbach Von Storch SE grew its holdings in IDEXX Laboratories by 5,439.3% during the 4th 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 in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Seilern Investment Management Ltd bought a new position in shares of IDEXX Laboratories during the 4th quarter valued at approximately $113,104,000. Vontobel Holding Ltd. grew its holdings in shares of IDEXX Laboratories by 90.1% in the fourth quarter. Vontobel Holding Ltd. now owns 418,563 shares of the company’s stock valued at $173,051,000 after purchasing an additional 198,404 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in IDEXX Laboratories in the fourth quarter worth $62,391,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 1.0 %

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on IDXX shares. Barclays increased their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Piper Sandler increased their price target 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. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Morgan Stanley decreased their price objective 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. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories 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 owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP George Fennell sold 9,986 shares of the company’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 in the company, valued at $3,781,645.28. This represents 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 corporate insiders.

About IDEXX Laboratories

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.