Teacher Retirement System of Texas Has $11.18 Million Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Teacher Retirement System of Texas reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 30.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 27,037 shares of the company’s stock after selling 12,099 shares during the quarter. Teacher Retirement System of Texas’ holdings in IDEXX Laboratories were worth $11,178,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FSA Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 3rd quarter worth approximately $25,000. Rialto Wealth Management LLC acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $30,000. Retirement Wealth Solutions LLC acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $31,000. Kestra Investment Management LLC acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $38,000. Finally, Crews Bank & Trust acquired a new stake in IDEXX Laboratories in the 4th quarter worth approximately $41,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the company’s stock in a transaction 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 directly owns 8,176 shares in the company, valued at $3,781,645.28. This represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director M Anne Szostak sold 3,000 shares of the company’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $465.94, for a total value of $1,397,820.00. Following the completion of the sale, the director now 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 disclosure for this sale can be found here. 2.11% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on IDXX shares. Leerink Partnrs upgraded IDEXX Laboratories to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Bank of America upped 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. Piper Sandler upped their price target on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Finally, Morgan Stanley cut their price target on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $533.75.

IDEXX Laboratories Stock Performance

IDXX opened at $420.99 on Friday. The stock has a market cap of $34.24 billion, a PE ratio of 39.46, a P/E/G ratio of 3.41 and a beta of 1.39. 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 stock’s 50 day simple moving average is $437.36 and its 200-day simple moving average is $445.11.

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.