Taikang Asset Management Hong Kong Co Ltd Lowers Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Taikang Asset Management Hong Kong Co Ltd cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 42.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of IDXX. Advisors Asset Management Inc. grew its holdings in IDEXX Laboratories by 4.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 3,265 shares of the company’s stock valued at $1,650,000 after buying an additional 131 shares in the last quarter. Moors & Cabot Inc. bought a new position in shares of IDEXX Laboratories during the 3rd quarter valued at about $210,000. Cerity Partners LLC grew its position in shares of IDEXX Laboratories by 25.2% during 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 bought a new stake in shares of IDEXX Laboratories in the third quarter worth about $507,000. Finally, Algert Global LLC increased its stake in IDEXX Laboratories by 1,193.5% in the 3rd quarter. Algert Global LLC now owns 9,171 shares of the company’s stock worth $4,633,000 after acquiring an additional 8,462 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on IDXX. Morgan Stanley lowered their price objective on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a research report on Wednesday, January 29th. Leerink Partnrs raised IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Barclays lifted their price target on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partners assumed coverage on shares of IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Finally, Bank of America increased 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. Four investment 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 company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $533.75.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $423.60 on Tuesday. The stock has a market capitalization of $34.34 billion, a price-to-earnings ratio of 39.70, 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 firm has a 50-day simple moving average of $437.38 and a 200-day simple moving average of $444.44. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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 value of $1,397,820.00. Following the transaction, the director now owns 3,061 shares in the company, valued at $1,426,242.34. The trade was a 49.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP George Fennell sold 9,986 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, February 10th. The shares were 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 directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.11% of the company’s stock.

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.