Resona Asset Management Co. Ltd. Buys New Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Resona Asset Management Co. Ltd. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 25,390 shares of the company’s stock, valued at approximately $10,503,000.

A number of other large investors also recently modified their holdings of IDXX. Norges Bank acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth $412,258,000. Flossbach Von Storch SE boosted its position in shares of IDEXX Laboratories by 5,439.3% during the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company’s stock worth $195,696,000 after acquiring an additional 464,791 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after acquiring an additional 369,471 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of IDEXX Laboratories by 265.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 435,049 shares of the company’s stock worth $179,867,000 after acquiring an additional 316,048 shares in the last quarter. Finally, Seilern Investment Management Ltd purchased a new stake in IDEXX Laboratories during the fourth quarter worth approximately $113,104,000. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on IDXX shares. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday. Bank of America lifted their price target on shares of IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 4th. Barclays upped their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, February 4th. Morgan Stanley dropped their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Finally, Piper Sandler boosted their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $533.75.

Insider Transactions 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 shares were sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the transaction, the executive vice president now directly owns 8,176 shares in the company, valued at $3,781,645.28. The trade was a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director M Anne Szostak sold 3,000 shares of the 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 transaction, the director now directly owns 3,061 shares of the company’s stock, 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. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 4.1 %

IDXX opened at $393.73 on Monday. The business has a 50 day moving average price of $435.55 and a two-hundred day moving average price of $439.31. IDEXX Laboratories, Inc. has a 52 week low of $365.93 and a 52 week high of $548.88. The company has a market cap of $31.91 billion, a PE ratio of 36.90, a P/E/G ratio of 3.41 and a beta of 1.50. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

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.