IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 38.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 867,053 shares of the company's stock after selling 545,647 shares during the period. Franklin Resources Inc. owned about 1.06% of IDEXX Laboratories worth $358,474,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of IDXX. Insight Wealth Strategies LLC lifted its position in IDEXX Laboratories by 230.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company's stock valued at $4,174,000 after acquiring an additional 7,041 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of IDEXX Laboratories by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock valued at $1,138,732,000 after purchasing an additional 40,349 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of IDEXX Laboratories during the 3rd quarter worth approximately $1,263,000. Sax Wealth Advisors LLC increased its position in shares of IDEXX Laboratories by 76.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company's stock valued at $590,000 after buying an additional 617 shares in the last quarter. Finally, Hantz Financial Services Inc. increased its stake in shares of IDEXX Laboratories by 11.5% during the 4th quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company's stock worth $3,199,000 after purchasing an additional 800 shares in the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on IDXX shares. Barclays increased their price objective on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research note on Tuesday, February 4th. Bank of America boosted their price objective on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Morgan Stanley decreased their price target 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 shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday. Finally, Piper Sandler raised their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $533.75.

IDEXX Laboratories Stock Down 4.1 %

Shares of IDXX stock traded down $17.03 on Friday, hitting $393.73. The stock had a trading volume of 1,635,645 shares, compared to its average volume of 592,302. IDEXX Laboratories, Inc. has a 52-week low of $393.50 and a 52-week high of $548.88. The firm has a market capitalization of $31.91 billion, a price-to-earnings ratio of 36.90, a P/E/G ratio of 3.41 and a beta of 1.39. 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 stock's 50 day moving average is $435.55 and its 200-day moving average is $440.31.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction on 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 sale, 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. 2.11% of the stock is currently owned by corporate insiders.

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.