Taikang Asset Management Hong Kong Co Ltd Sells 7,579 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Taikang Asset Management Hong Kong Co Ltd decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,125 shares of the company’s stock after selling 7,579 shares during the period. Taikang Asset Management Hong Kong Co Ltd’s holdings in IDEXX Laboratories were worth $4,186,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of IDXX. KLP Kapitalforvaltning AS acquired a new position in IDEXX Laboratories in the 4th quarter valued at $15,876,000. American Century Companies Inc. lifted 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 purchasing an additional 191,385 shares during the period. Mizuho Securities USA LLC grew its stake in IDEXX Laboratories by 45.4% during the fourth quarter. Mizuho Securities USA LLC now owns 7,761 shares of the company’s stock worth $3,209,000 after buying an additional 2,424 shares in the last quarter. Quantbot Technologies LP increased its holdings in IDEXX Laboratories by 1,870.5% in the 4th quarter. Quantbot Technologies LP now owns 13,301 shares of the company’s stock valued at $5,499,000 after buying an additional 12,626 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at approximately $486,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the business’s 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 directly owns 8,176 shares of the company’s stock, valued at approximately $3,781,645.28. The trade was a 54.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 directly owns 3,061 shares of the company’s stock, valued at $1,426,242.34. This represents a 49.50 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate insiders.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $423.60 on Tuesday. The company has a market capitalization of $34.34 billion, a P/E ratio of 39.70, a P/E/G ratio of 3.41 and a beta of 1.39. 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, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88. The company has a fifty day moving average of $437.38 and a 200-day moving average of $444.44.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IDXX shares. Bank of America boosted their price target on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Leerink Partners initiated coverage on shares of IDEXX Laboratories in a report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price for the company. Piper Sandler upped their price objective 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. Barclays raised their target price 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. Finally, Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.