Sumitomo Mitsui DS Asset Management Company Ltd Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sumitomo Mitsui DS Asset Management Company Ltd lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 17.0% during the 4th quarter, HoldingsChannel reports. The firm owned 20,100 shares of the company’s stock after selling 4,108 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in IDEXX Laboratories were worth $8,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. FSA Wealth Management LLC purchased a new position in shares of IDEXX Laboratories in the 3rd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in IDEXX Laboratories by 5,700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares during the period. Retirement Wealth Solutions LLC purchased a new position in IDEXX Laboratories in the fourth quarter worth about $31,000. Mowery & Schoenfeld Wealth Management LLC boosted its position in IDEXX Laboratories by 750.0% in the third quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares during the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $37,000. Institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling

In other IDEXX Laboratories news, Director Sophie V. Vandebroek sold 344 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now directly owns 905 shares in the company, valued at approximately $380,498.20. The trade was a 27.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.18% of the stock is owned by insiders.

IDEXX Laboratories Price Performance

Shares of IDEXX Laboratories stock opened at $459.78 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $583.39. The stock’s 50-day simple moving average is $427.59 and its 200-day simple moving average is $453.67. The company has a market capitalization of $37.65 billion, a price-to-earnings ratio of 44.34, a PEG ratio of 3.64 and a beta of 1.37.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IDXX. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays increased their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research report on Tuesday. Piper Sandler reissued a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. Bank of America raised their target price on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $524.38.

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.