Principal Financial Group Inc. Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Principal Financial Group Inc. trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 711,200 shares of the company’s stock after selling 19,270 shares during the period. Principal Financial Group Inc. owned about 0.87% of IDEXX Laboratories worth $294,039,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FSA Wealth Management LLC purchased a new position in IDEXX Laboratories during the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of IDEXX Laboratories by 5,700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after purchasing an additional 57 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $31,000. Mowery & Schoenfeld Wealth Management LLC raised its stake in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after buying an additional 60 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in IDEXX Laboratories in the third quarter worth about $37,000. 87.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other 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 completion of the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction on Monday, February 10th. The shares were 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 directly 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. Insiders sold a total of 13,330 shares of company stock worth $6,161,276 in the last three months. Insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays increased their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Bank of America increased their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Finally, Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

IDEXX Laboratories Stock Down 3.3 %

Shares of IDEXX Laboratories stock opened at $444.53 on Tuesday. The company has a 50-day simple moving average of $430.95 and a two-hundred day simple moving average of $452.80. The stock has a market capitalization of $36.40 billion, a PE ratio of 41.66, a price-to-earnings-growth ratio of 3.47 and a beta of 1.37. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.03 and a current ratio of 1.31.

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.