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

Franklin Resources Inc. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 38.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 867,053 shares of the company’s stock after selling 545,647 shares during the period. Franklin Resources Inc.’s holdings in IDEXX Laboratories were worth $358,474,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Insight Wealth Strategies LLC grew its position in shares of IDEXX Laboratories by 230.5% in the fourth quarter. Insight Wealth Strategies LLC now owns 10,096 shares of the company’s stock valued at $4,174,000 after purchasing an additional 7,041 shares during the last quarter. Geode Capital Management LLC grew its holdings in IDEXX Laboratories by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 2,259,537 shares of the company’s stock valued at $1,138,732,000 after buying an additional 40,349 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in IDEXX Laboratories during the 3rd quarter worth $1,263,000. Sax Wealth Advisors LLC lifted its holdings in shares of IDEXX Laboratories by 76.3% during the fourth quarter. Sax Wealth Advisors LLC now owns 1,426 shares of the company’s stock worth $590,000 after buying an additional 617 shares in the last quarter. Finally, Hantz Financial Services Inc. boosted its position in shares of IDEXX Laboratories by 11.5% in the fourth quarter. Hantz Financial Services Inc. now owns 7,738 shares of the company’s stock valued at $3,199,000 after acquiring an additional 800 shares during the period. 87.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on IDXX. Barclays lifted their price objective on shares of IDEXX Laboratories from $481.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Leerink Partnrs upgraded shares of IDEXX Laboratories to a “strong-buy” rating in a research report on Monday, December 2nd. Leerink Partners initiated coverage on IDEXX Laboratories in a research report on Monday, December 2nd. They set an “outperform” rating and a $500.00 price target on the stock. Morgan Stanley dropped their price objective on IDEXX Laboratories from $559.00 to $550.00 and set an “overweight” rating for the company in a report on Wednesday, January 29th. Finally, Piper Sandler increased their target price on IDEXX Laboratories from $435.00 to $510.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $533.75.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP George Fennell sold 9,986 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were 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 $3,781,645.28. This trade represents a 54.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director M Anne Szostak sold 3,000 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 3,061 shares in the company, valued at approximately $1,426,242.34. The trade was a 49.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

IDEXX Laboratories stock opened at $419.95 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.95 and a current ratio of 1.31. IDEXX Laboratories, Inc. has a 52 week low of $398.50 and a 52 week high of $548.88. The stock has a market capitalization of $34.04 billion, a P/E ratio of 39.36, a price-to-earnings-growth ratio of 3.41 and a beta of 1.39. The stock has a fifty day moving average of $437.08 and a 200-day moving average of $442.03.

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.