JPMorgan Chase & Co. Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

JPMorgan Chase & Co. lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 537,438 shares of the company’s stock after selling 75,234 shares during the quarter. JPMorgan Chase & Co. owned 0.66% of IDEXX Laboratories worth $222,199,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of IDEXX Laboratories by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock worth $1,138,732,000 after buying an additional 40,349 shares during the last quarter. Franklin Resources Inc. raised its stake in IDEXX Laboratories by 2.5% in the 3rd quarter. Franklin Resources Inc. now owns 1,412,700 shares of the company’s stock worth $675,259,000 after acquiring an additional 34,305 shares during the last quarter. American Century Companies Inc. lifted its position in IDEXX Laboratories by 30.9% during the 4th quarter. American Century Companies Inc. now owns 809,814 shares of the company’s stock worth $334,810,000 after acquiring an additional 191,385 shares during the period. Amundi grew its stake in IDEXX Laboratories by 8.1% during the 4th quarter. Amundi now owns 758,669 shares of the company’s stock valued at $328,018,000 after purchasing an additional 56,837 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of IDEXX Laboratories by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,692 shares of the company’s stock valued at $219,823,000 after purchasing an additional 16,213 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Up 1.0 %

IDEXX Laboratories stock opened at $419.95 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.31 and a quick ratio of 0.95. The stock has a market capitalization of $34.04 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The business has a 50 day simple moving average of $437.08 and a 200-day simple moving average of $442.03. IDEXX Laboratories, Inc. has a 12 month low of $398.50 and a 12 month high of $548.88.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 29th. Piper Sandler increased their price objective 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. Bank of America boosted their target price on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a research report on Tuesday, February 4th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Barclays upped 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. Four research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and a consensus target price of $533.75.

Insiders Place Their Bets

In other news, EVP George Fennell sold 9,986 shares of the business’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 8,176 shares of the company’s stock, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were 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. This 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 currently owned by company 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.