Mitsubishi UFJ Trust & Banking Corp Decreases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,478 shares of the company’s stock after selling 2,762 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of IDEXX Laboratories worth $20,456,000 as of its most recent filing with the Securities & Exchange Commission.

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

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction on Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the sale, the director now directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX opened at $422.54 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88. The stock has a fifty day moving average of $437.13 and a 200 day moving average of $443.72. 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 firm has a market capitalization of $34.25 billion, a price-to-earnings ratio of 39.60, a P/E/G ratio of 3.41 and a beta of 1.39.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on IDXX. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Barclays raised their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Piper Sandler boosted their target price 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 Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.