Arizona State Retirement System Has $9.65 Million Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arizona State Retirement System reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,343 shares of the company’s stock after selling 327 shares during the period. Arizona State Retirement System’s holdings in IDEXX Laboratories were worth $9,651,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter worth about $25,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in shares of IDEXX Laboratories in the 3rd quarter valued at $37,000. Kestra Investment Management LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $38,000. Finally, Crews Bank & Trust bought a new stake in IDEXX Laboratories during the 4th quarter worth approximately $41,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 3,000 shares of the company’s 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 completion of the sale, the director now owns 3,061 shares of the company’s stock, valued at approximately $1,426,242.34. This represents a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred on 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. This trade represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 1.9 %

Shares of NASDAQ IDXX opened at $429.03 on Friday. The stock has a market capitalization of $34.89 billion, a P/E ratio of 40.21, a PEG ratio of 3.41 and a beta of 1.37. The stock’s fifty day moving average is $437.06 and its 200 day moving average is $450.19. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $574.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Analyst Upgrades and Downgrades

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