IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Trimmed by Kentucky Retirement Systems

Kentucky Retirement Systems lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,307 shares of the company’s stock after selling 342 shares during the quarter. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $3,405,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of IDXX. Valley National Advisers Inc. boosted its position in IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after acquiring an additional 22 shares during the period. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Crewe Advisors LLC acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. DSM Capital Partners LLC acquired a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $33,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of IDEXX Laboratories by 226.3% during the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after buying an additional 43 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IDXX has been the subject of several research reports. Barclays reduced their price target on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Morgan Stanley cut their price objective 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. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. StockNews.com downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $585.89.

IDEXX Laboratories Trading Down 0.2 %

Shares of IDXX traded down $0.97 during trading hours on Friday, hitting $469.71. 588,415 shares of the stock traded hands, compared to its average volume of 478,889. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The firm has a market capitalization of $38.79 billion, a PE ratio of 45.47, a price-to-earnings-growth ratio of 3.84 and a beta of 1.32. The business has a fifty day moving average of $493.61 and a 200-day moving average of $517.16.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. Analysts expect that IDEXX Laboratories, Inc. will post 11 EPS for the current year.

Insider Activity at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the sale, the director now owns 161 shares in the company, valued at $87,068.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.11% of the stock is currently owned by corporate insiders.

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.