National Bank of Canada FI Sells 24,647 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

National Bank of Canada FI reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 37.2% during the 1st quarter, HoldingsChannel reports. The firm owned 41,520 shares of the company’s stock after selling 24,647 shares during the quarter. National Bank of Canada FI’s holdings in IDEXX Laboratories were worth $21,168,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of IDXX. Nordea Investment Management AB increased its stake in shares of IDEXX Laboratories by 15.5% in the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock valued at $7,447,000 after buying an additional 1,839 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $3,183,000. Assenagon Asset Management S.A. raised its stake in shares of IDEXX Laboratories by 25.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 43,593 shares of the company’s stock worth $24,196,000 after acquiring an additional 8,831 shares during the last quarter. Carderock Capital Management Inc. lifted its position in shares of IDEXX Laboratories by 35.7% during the fourth quarter. Carderock Capital Management Inc. now owns 16,416 shares of the company’s stock worth $9,112,000 after purchasing an additional 4,315 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of IDEXX Laboratories by 9.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 42,045 shares of the company’s stock valued at $23,307,000 after purchasing an additional 3,627 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now owns 161 shares in the company, valued at $87,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $4.05 during midday trading on Thursday, hitting $475.39. 280,556 shares of the company were exchanged, compared to its average volume of 474,136. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39. The firm has a market capitalization of $39.26 billion, a P/E ratio of 45.63, a PEG ratio of 3.85 and a beta of 1.32. The firm’s 50 day moving average price is $496.49 and its two-hundred day moving average price is $518.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $964.10 million during the quarter, compared to the consensus estimate of $965.43 million. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several analyst reports. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Morgan Stanley dropped their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday. They set a “buy” rating and a $580.00 price objective for the company. Barclays dropped their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $585.89.

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.