Principal Financial Group Inc. Decreases Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Principal Financial Group Inc. reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 781,368 shares of the company's stock after selling 34,495 shares during the quarter. Principal Financial Group Inc. owned about 0.94% of IDEXX Laboratories worth $433,699,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Patron Partners LLC lifted its stake in shares of IDEXX Laboratories by 2.7% in the 4th quarter. Patron Partners LLC now owns 765 shares of the company's stock valued at $425,000 after purchasing an additional 20 shares during the period. NewEdge Wealth LLC lifted its stake in IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company's stock valued at $366,000 after buying an additional 20 shares during the period. Phoenix Holdings Ltd. boosted its holdings in shares of IDEXX Laboratories by 2.8% during the 3rd quarter. Phoenix Holdings Ltd. now owns 769 shares of the company's stock worth $338,000 after buying an additional 21 shares in the last quarter. BluePath Capital Management LLC grew its position in shares of IDEXX Laboratories by 1.8% during the 4th quarter. BluePath Capital Management LLC now owns 1,197 shares of the company's stock worth $663,000 after buying an additional 21 shares during the period. Finally, Valley National Advisers Inc. increased its stake in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company's stock valued at $26,000 after acquiring an additional 22 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Up 1.8 %

Shares of NASDAQ:IDXX traded up $9.00 during mid-day trading on Friday, hitting $509.82. 526,504 shares of the company traded hands, compared to its average volume of 524,895. The stock has a market cap of $42.11 billion, a P/E ratio of 49.35, a P/E/G ratio of 4.01 and a beta of 1.27. The stock has a 50-day moving average price of $515.08 and a two-hundred day moving average price of $515.21. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40.

Analyst Ratings Changes

A number of equities research analysts have commented on IDXX shares. The Goldman Sachs Group raised their price target on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a "buy" rating in a report on Wednesday, January 17th. Barclays decreased their target price on IDEXX Laboratories from $655.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, May 2nd. JPMorgan Chase & Co. increased their price target on IDEXX Laboratories from $600.00 to $630.00 and gave the stock an "overweight" rating in a report on Tuesday, February 6th. Piper Sandler downgraded IDEXX Laboratories from an "overweight" rating to a "neutral" rating and set a $525.00 price objective for the company. in a report on Tuesday, January 30th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, IDEXX Laboratories currently has an average rating of "Moderate Buy" and an average price target of $580.88.

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.