Nomura Asset Management Co. Ltd. Has $26.92 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Nomura Asset Management Co. Ltd. reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,121 shares of the company’s stock after selling 343 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.08% of IDEXX Laboratories worth $26,924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. FSA Wealth Management LLC acquired a new position in IDEXX Laboratories during the third quarter valued at approximately $25,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories in the fourth quarter worth $30,000. Retirement Wealth Solutions LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth $31,000. Kestra Investment Management LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $38,000. Finally, Crews Bank & Trust bought a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $41,000. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Down 1.6 %

Shares of IDXX stock opened at $415.87 on Friday. The firm’s fifty day moving average price is $437.07 and its two-hundred day moving average price is $442.90. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1 year low of $398.50 and a 1 year high of $548.88. The firm has a market capitalization of $33.71 billion, a P/E ratio of 38.98, a PEG ratio of 3.41 and a beta of 1.39.

Wall Street Analyst Weigh In

Several research firms have weighed in on IDXX. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. Bank of America lifted their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Leerink Partners initiated coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They set an “outperform” rating and a $500.00 target price for the company. Barclays lifted their price target 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. Finally, 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 report on Monday, February 10th. Four investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $533.75.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction that occurred on 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 directly owns 3,061 shares in the company, valued at $1,426,242.34. This trade represents 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 company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $462.53, for a total value of $4,618,824.58. Following the sale, the executive vice president now owns 8,176 shares in the company, valued at approximately $3,781,645.28. This represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is owned by corporate 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.