JPMorgan Chase & Co. Sells 75,234 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

JPMorgan Chase & Co. lessened its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 537,438 shares of the company's stock after selling 75,234 shares during the quarter. JPMorgan Chase & Co. owned 0.66% of IDEXX Laboratories worth $222,199,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of IDXX. FSA Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the third quarter valued at $25,000. Rialto Wealth Management LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at about $30,000. Retirement Wealth Solutions LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at about $31,000. Kestra Investment Management LLC bought a new stake in IDEXX Laboratories during the fourth quarter worth about $38,000. Finally, Crews Bank & Trust acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $41,000. Institutional investors own 87.84% of the company's stock.

Insider Buying and Selling

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 value of $1,397,820.00. Following the completion of the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. This represents a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP George Fennell sold 9,986 shares of the firm's 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 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. 2.11% of the stock is currently owned by company insiders.

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IDEXX Laboratories Trading Down 4.1 %

Shares of NASDAQ IDXX traded down $17.03 during midday trading on Friday, reaching $393.73. 1,635,645 shares of the stock were exchanged, compared to its average volume of 592,302. IDEXX Laboratories, Inc. has a 12 month low of $393.50 and a 12 month high of $548.88. The company 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 current ratio of 1.31 and a quick ratio of 0.95. The business has a 50-day simple moving average of $435.55 and a two-hundred day simple moving average of $440.31.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Bank of America boosted their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Piper Sandler raised their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Barclays upped their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 4th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research note on Wednesday, January 29th. Finally, StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday. Three analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, IDEXX Laboratories has an average rating of "Moderate Buy" and a consensus price target of $533.75.

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.