Franklin Resources Inc. Has $358.47 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Franklin Resources Inc. cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 867,053 shares of the company’s stock after selling 545,647 shares during the period. Franklin Resources Inc. owned about 1.06% of IDEXX Laboratories worth $358,474,000 at the end of the most recent reporting period.

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

IDEXX Laboratories Stock Up 1.0 %

IDXX stock opened at $419.95 on Tuesday. The company has a market cap of $34.04 billion, a price-to-earnings ratio of 39.36, a P/E/G ratio of 3.41 and a beta of 1.39. IDEXX Laboratories, Inc. has a twelve month low of $398.50 and a twelve month high of $548.88. The business has a 50 day moving average price of $437.08 and a two-hundred day moving average price of $442.03. 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 Activity

In related news, Director M Anne Szostak sold 3,000 shares of the firm’s stock in a transaction dated 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 directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. This trade represents a 49.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP George Fennell sold 9,986 shares of the business’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 transaction, the executive vice president now directly owns 8,176 shares in the company, valued at approximately $3,781,645.28. This trade represents a 54.98 % decrease in their position. The disclosure for this sale can be found here. 2.11% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on IDXX shares. Piper Sandler lifted their price target on shares of IDEXX Laboratories from $435.00 to $510.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Leerink Partnrs raised shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Morgan Stanley lowered their target price on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, March 25th. Finally, Bank of America increased their price objective on IDEXX Laboratories from $475.00 to $535.00 and gave the stock a “neutral” rating in a report on Tuesday, February 4th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.