Illinois Municipal Retirement Fund Lowers Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Illinois Municipal Retirement Fund reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,301 shares of the company’s stock after selling 1,017 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in IDEXX Laboratories were worth $3,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FSA Wealth Management LLC bought a new stake in IDEXX Laboratories in the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. raised its position in shares of IDEXX Laboratories by 5,700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock worth $29,000 after purchasing an additional 57 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of IDEXX Laboratories in the 4th quarter worth about $31,000. Ashton Thomas Securities LLC bought a new position in IDEXX Laboratories in the 3rd quarter worth about $37,000. Finally, Kestra Investment Management LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $457.81 on Thursday. 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 1-year low of $398.50 and a 1-year high of $583.39. The stock has a market capitalization of $37.23 billion, a price-to-earnings ratio of 42.91, a PEG ratio of 3.41 and a beta of 1.37. The business’s fifty day moving average price is $434.18 and its 200-day moving average price is $451.92.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Bank of America lifted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Piper Sandler boosted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Leerink Partners started coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price on the stock. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Finally, StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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’s stock. According to data from MarketBeat.com, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction on Monday, February 10th. The shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now owns 8,176 shares in the company, valued at $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 is available through this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’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 sale, the director now owns 3,061 shares of the company’s stock, valued at $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. 2.11% of the stock is 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.