Commonwealth of Pennsylvania Public School Empls Retrmt SYS Lowers Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 17,411 shares of the company’s stock after selling 506 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in IDEXX Laboratories were worth $7,198,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FSA Wealth Management LLC purchased a new stake in IDEXX Laboratories in the third quarter valued at approximately $25,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $30,000. Retirement Wealth Solutions LLC purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $38,000. Finally, Crews Bank & Trust purchased a new stake in IDEXX Laboratories in the fourth quarter valued at approximately $41,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock opened at $420.99 on Friday. The stock has a market cap of $34.24 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 3.41 and a beta of 1.39. The firm’s 50-day moving average is $437.36 and its 200 day moving average is $445.11. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $548.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 29th. Bank of America lifted 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. Barclays lifted 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 downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th. Finally, Leerink Partners began 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. Four equities research 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.75.

Insider Buying and Selling

In related 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 value of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

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.