Mitsubishi UFJ Asset Management Co. Ltd. Buys 11,056 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.3% during the fourth quarter, HoldingsChannel reports. The firm owned 144,011 shares of the company’s stock after acquiring an additional 11,056 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $59,841,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Korea Investment CORP increased its holdings in IDEXX Laboratories by 1.5% during the fourth quarter. Korea Investment CORP now owns 60,917 shares of the company’s stock worth $25,186,000 after buying an additional 880 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth about $455,000. Florida Financial Advisors LLC raised its holdings in shares of IDEXX Laboratories by 26.7% in the 4th quarter. Florida Financial Advisors LLC now owns 850 shares of the company’s stock valued at $351,000 after purchasing an additional 179 shares during the period. Segall Bryant & Hamill LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $8,600,000. Finally, KLP Kapitalforvaltning AS bought a new position in IDEXX Laboratories during the fourth quarter worth about $15,876,000. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling

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 completion of the transaction, the director now owns 3,061 shares of the company’s stock, valued at $1,426,242.34. The trade was a 49.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP George Fennell sold 9,986 shares of the stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $462.53, for a total transaction of $4,618,824.58. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $415.87 on Friday. IDEXX Laboratories, Inc. has a 12-month low of $398.50 and a 12-month high of $548.88. The company’s 50 day moving average price is $437.07 and its two-hundred day moving average price is $443.27. The firm has a market cap of $33.71 billion, a PE ratio of 38.98, a PEG ratio of 3.41 and a beta of 1.39. The company has a quick ratio of 0.95, a current ratio of 1.31 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

IDXX has been the subject of a number of recent analyst reports. Leerink Partners assumed coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They issued an “outperform” rating and a $500.00 price objective for the company. Piper Sandler lifted their price objective on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Bank of America increased their price objective 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. Barclays lifted their target price on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, February 4th. Finally, Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $533.75.

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.