Clearbridge Investments LLC Decreases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Clearbridge Investments LLC lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 26.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,128 shares of the company’s stock after selling 90,976 shares during the period. Clearbridge Investments LLC owned 0.31% of IDEXX Laboratories worth $104,240,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories during the third quarter worth approximately $25,000. Rialto Wealth Management LLC purchased a new stake in IDEXX Laboratories in the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC bought a new stake in IDEXX Laboratories in the fourth quarter valued at $31,000. Kestra Investment Management LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $38,000. Finally, Crews Bank & Trust bought a new stake in IDEXX Laboratories during the 4th quarter valued at approximately $41,000. 87.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction that occurred on 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 sale, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 completion of the transaction, the executive vice president now directly 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 corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on IDXX shares. Piper Sandler raised their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Morgan Stanley reduced their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a research note on Monday, December 2nd. Barclays upped their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $419.95 on Tuesday. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The stock has a market capitalization of $34.04 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28. The stock’s 50-day moving average price is $437.08 and its 200-day moving average price is $442.03.

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.