Prudential Financial Inc. Reduces Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Prudential Financial Inc. lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 15.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,226 shares of the company's stock after selling 7,658 shares during the quarter. Prudential Financial Inc. owned 0.05% of IDEXX Laboratories worth $17,458,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of IDXX. Geode Capital Management LLC increased its position in shares of IDEXX Laboratories by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company's stock worth $1,138,732,000 after acquiring an additional 40,349 shares in the last quarter. Franklin Resources Inc. boosted its stake in IDEXX Laboratories by 2.5% during the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company's stock valued at $675,259,000 after purchasing an additional 34,305 shares during the last quarter. American Century Companies Inc. increased its holdings in IDEXX Laboratories by 30.9% during the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock worth $334,810,000 after purchasing an additional 191,385 shares in the last quarter. Amundi raised its stake in shares of IDEXX Laboratories by 8.1% in the fourth quarter. Amundi now owns 758,669 shares of the company's stock worth $328,018,000 after purchasing an additional 56,837 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of IDEXX Laboratories by 0.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 751,900 shares of the company's stock valued at $379,875,000 after purchasing an additional 2,463 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

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IDEXX Laboratories Stock Performance

Shares of IDEXX Laboratories stock traded down $1.38 on Tuesday, reaching $418.57. 518,227 shares of the company traded hands, compared to its average volume of 584,145. The company has a 50 day moving average of $436.90 and a 200 day moving average of $441.45. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The firm has a market capitalization of $33.93 billion, a PE ratio of 39.23, a PEG ratio of 3.41 and a beta of 1.39.

Insiders Place Their Bets

In related 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 value of $4,618,824.58. Following the completion of the sale, the executive vice president now 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company's stock in a transaction dated 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 sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % 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.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on IDXX. Barclays upped their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an "overweight" rating in a report on Tuesday, February 4th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an "outperform" rating and a $500.00 target price for the company. Bank of America raised their price target 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 reduced their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Finally, Piper Sandler lifted 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. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price 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.