Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 144,011 shares of the company's stock after buying an additional 11,056 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.18% of IDEXX Laboratories worth $59,841,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories during the 3rd quarter valued at $25,000. Rialto Wealth Management LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $30,000. Retirement Wealth Solutions LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $31,000. Kestra Investment Management LLC bought a new position in IDEXX Laboratories in the 4th quarter valued at about $38,000. Finally, Crews Bank & Trust acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $41,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley dropped their price target on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a report on Wednesday, January 29th. Leerink Partnrs raised IDEXX Laboratories to a "strong-buy" rating in a report on Monday, December 2nd. Bank of America upped their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research note on Tuesday, February 4th. Leerink Partners began coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 price objective for the company. Finally, Barclays increased their target price 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. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $533.75.

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Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories 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 sale, the executive vice president now directly owns 8,176 shares of the company's stock, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 sale, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % 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 Price Performance

Shares of IDEXX Laboratories stock traded down $1.27 on Tuesday, reaching $418.68. 314,416 shares of the stock were exchanged, compared to its average volume of 582,255. The firm's 50 day moving average is $437.08 and its 200-day moving average is $442.03. The firm has a market cap of $33.94 billion, a PE ratio of 39.15, 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. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88.

IDEXX Laboratories 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.