Resona Asset Management Co. Ltd. Purchases New Shares in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Resona Asset Management Co. Ltd. acquired a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,390 shares of the company's stock, valued at approximately $10,503,000.

Several other hedge funds have also recently added to or reduced their stakes in IDXX. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 37,734 shares during the last quarter. Franklin Resources Inc. lifted its stake in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company's stock valued at $675,259,000 after buying an additional 34,305 shares in the last quarter. Norges Bank acquired a new stake in IDEXX Laboratories during the 4th quarter valued at $412,258,000. American Century Companies Inc. increased its position in IDEXX Laboratories by 30.9% during the fourth quarter. American Century Companies Inc. now owns 809,814 shares of the company's stock worth $334,810,000 after buying an additional 191,385 shares in the last quarter. Finally, Amundi lifted its position in shares of IDEXX Laboratories by 8.1% in the fourth quarter. Amundi now owns 758,669 shares of the company's stock valued at $328,018,000 after acquiring an additional 56,837 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IDXX has been the topic of several recent analyst reports. Piper Sandler upped their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. StockNews.com raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Friday, April 4th. Morgan Stanley lowered their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an "overweight" rating for the company in a research report on Wednesday, January 29th. Bank of America increased their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 4th. Finally, Barclays lifted their price target on IDEXX Laboratories from $481.00 to $520.00 and gave the company an "overweight" rating in a report on Tuesday, February 4th. Three 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. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of "Moderate Buy" and a consensus target price of $533.75.

Remove Ads

IDEXX Laboratories Trading Up 0.1 %

Shares of NASDAQ:IDXX traded up $0.53 during trading on Friday, reaching $382.36. 331,456 shares of the stock were exchanged, compared to its average volume of 611,643. The firm's 50-day moving average price is $429.51 and its 200 day moving average price is $434.87. The firm has a market cap of $30.99 billion, a price-to-earnings ratio of 35.68, a price-to-earnings-growth ratio of 3.41 and a beta of 1.50. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $548.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director M Anne Szostak sold 3,000 shares of the firm's stock in a transaction 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 transaction, the director now owns 3,061 shares of the company's stock, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP George Fennell sold 9,986 shares of the company'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 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 disclosure for this sale can be found here. 2.11% of the stock is currently owned by corporate insiders.

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.