Renaissance Technologies LLC Trims Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Renaissance Technologies LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 30.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,000 shares of the company's stock after selling 10,700 shares during the quarter. Renaissance Technologies LLC's holdings in IDEXX Laboratories were worth $10,336,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in IDXX. Geode Capital Management LLC grew its stake in IDEXX Laboratories by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company's stock valued at $948,279,000 after acquiring an additional 37,734 shares during the period. Franklin Resources Inc. increased 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 in the last quarter. Invesco Ltd. raised its holdings in IDEXX Laboratories by 6.8% during the fourth quarter. Invesco Ltd. now owns 1,160,988 shares of the company's stock worth $479,999,000 after buying an additional 74,324 shares during the last quarter. Norges Bank bought a new position in shares of IDEXX Laboratories in the fourth quarter valued at $412,258,000. Finally, American Century Companies Inc. grew its holdings in shares of IDEXX Laboratories by 30.9% during the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock valued at $334,810,000 after buying an additional 191,385 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IDXX. Stifel Nicolaus dropped their price target on shares of IDEXX Laboratories from $450.00 to $420.00 and set a "hold" rating on the stock in a research report on Monday, April 14th. StockNews.com cut IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Saturday, April 12th. Bank of America increased their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the company a "neutral" rating in a research report on Tuesday, February 4th. Piper Sandler upped their target price on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Barclays raised their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a research report on Tuesday, February 4th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $523.75.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the business's stock in a transaction 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 sale, the director now directly 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares of the company's stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their position. The disclosure for this sale can be found here. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Performance

IDXX traded up $14.94 during midday trading on Tuesday, reaching $421.59. The company had a trading volume of 950,044 shares, compared to its average volume of 627,177. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88. The business has a 50-day moving average price of $420.59 and a two-hundred day moving average price of $429.92. The stock has a market cap of $34.17 billion, a PE ratio of 39.51, a P/E/G ratio of 3.41 and a beta of 1.50. 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 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.