Corebridge Financial Inc. Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Corebridge Financial Inc. trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 27,912 shares of the company’s stock after selling 1,443 shares during the quarter. Corebridge Financial Inc.’s holdings in IDEXX Laboratories were worth $11,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Cerity Partners LLC grew its position in shares of IDEXX Laboratories by 25.2% in the third quarter. Cerity Partners LLC now owns 10,924 shares of the company’s stock valued at $5,519,000 after purchasing an additional 2,202 shares in the last quarter. Kingsview Wealth Management LLC purchased a new position in IDEXX Laboratories during the 3rd quarter valued at about $507,000. Centaurus Financial Inc. bought a new stake in shares of IDEXX Laboratories during the third quarter valued at about $115,000. Summit Trail Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 11.5% in the third quarter. Summit Trail Advisors LLC now owns 784 shares of the company’s stock worth $396,000 after buying an additional 81 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in shares of IDEXX Laboratories by 10.1% in the third quarter. Daiwa Securities Group Inc. now owns 16,462 shares of the company’s stock valued at $8,316,000 after acquiring an additional 1,510 shares during the period. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 1.4 %

Shares of NASDAQ IDXX opened at $417.66 on Wednesday. The stock has a market capitalization of $33.85 billion, a P/E ratio of 39.14, a PEG ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a one year low of $398.50 and a one year high of $548.88. The firm’s 50 day simple moving average is $437.36 and its two-hundred day simple moving average is $444.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95.

Insider Activity at IDEXX Laboratories

In other news, EVP George Fennell sold 9,986 shares of the business’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 sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was 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 insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on IDXX shares. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Barclays boosted 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 Partners began coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. Finally, Piper Sandler lifted their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Company 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.