California Public Employees Retirement System Cuts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

California Public Employees Retirement System lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,630 shares of the company’s stock after selling 9,276 shares during the period. California Public Employees Retirement System owned about 0.17% of IDEXX Laboratories worth $58,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. FMR LLC increased its stake in IDEXX Laboratories by 3.6% in the 3rd quarter. FMR LLC now owns 290,861 shares of the company’s stock valued at $146,949,000 after buying an additional 10,017 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of IDEXX Laboratories by 9.5% in the third quarter. D.A. Davidson & CO. now owns 1,629 shares of the company’s stock valued at $823,000 after acquiring an additional 142 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of IDEXX Laboratories during the third quarter valued at approximately $341,000. Glenmede Trust Co. NA lifted its holdings in IDEXX Laboratories by 2.6% during the third quarter. Glenmede Trust Co. NA now owns 1,874 shares of the company’s stock worth $947,000 after acquiring an additional 48 shares during the period. Finally, Public Sector Pension Investment Board boosted its position in IDEXX Laboratories by 16.2% in the third quarter. Public Sector Pension Investment Board now owns 3,578 shares of the company’s stock worth $1,808,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $418.57 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. The stock has a market capitalization of $33.93 billion, a price-to-earnings ratio of 39.23, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a 52-week low of $398.50 and a 52-week high of $548.88. The stock’s 50-day simple moving average is $436.90 and its 200 day simple moving average is $441.45.

Wall Street Analyst Weigh In

A number of research firms have recently commented on IDXX. Barclays lifted their target price on IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley decreased their price objective 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. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, March 25th. Piper Sandler raised their price target 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, Bank of America upped their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research note on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $533.75.

Insider Transactions at IDEXX Laboratories

In related news, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $465.94, for a total transaction of $1,397,820.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

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.