Clearbridge Investments LLC Sells 90,976 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Clearbridge Investments LLC reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 26.5% in the fourth quarter, according to its most recent Form 13F 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 quarter. Clearbridge Investments LLC owned 0.31% of IDEXX Laboratories worth $104,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its position in IDEXX Laboratories by 3.6% in the 3rd quarter. FMR LLC now owns 290,861 shares of the company's stock valued at $146,949,000 after buying an additional 10,017 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of IDEXX Laboratories by 9.5% in the third quarter. D.A. Davidson & CO. now owns 1,629 shares of the company's stock valued at $823,000 after purchasing an additional 142 shares during the last quarter. Quantbot Technologies LP purchased a new position in IDEXX Laboratories during the third quarter worth about $341,000. Glenmede Trust Co. NA boosted its holdings in IDEXX Laboratories by 2.6% during the third quarter. Glenmede Trust Co. NA now owns 1,874 shares of the company's stock worth $947,000 after purchasing an additional 48 shares during the last quarter. Finally, Public Sector Pension Investment Board grew its position in IDEXX Laboratories by 16.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 3,578 shares of the company's stock worth $1,808,000 after purchasing an additional 500 shares in the last quarter. 87.84% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of IDEXX Laboratories stock in a transaction dated 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 completion of the transaction, the director now owns 3,061 shares of the company's stock, valued at $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 is available through this link. Also, EVP George Fennell sold 9,986 shares of the 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 sale, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.11% of the company's stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded down $17.03 during trading on Friday, reaching $393.73. 1,635,645 shares of the company's stock traded hands, compared to its average volume of 592,302. The firm's 50-day moving average is $435.55 and its 200 day moving average is $440.31. The company has a market capitalization of $31.91 billion, a P/E ratio of 36.90, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 1 year low of $393.50 and a 1 year high of $548.88. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of research analyst reports. Morgan Stanley cut their target price on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating on the stock in a research note on Wednesday, January 29th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research report on Friday. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. 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. Finally, 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 research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.