DNB Asset Management AS Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

DNB Asset Management AS trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 32.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 13,760 shares of the company’s stock after selling 6,649 shares during the quarter. DNB Asset Management AS’s holdings in IDEXX Laboratories were worth $6,704,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDXX. Venturi Wealth Management LLC boosted its holdings in IDEXX Laboratories by 226.3% in the fourth quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares during the last quarter. Ballentine Partners LLC grew its holdings in IDEXX Laboratories by 114.3% during the fourth quarter. Ballentine Partners LLC now owns 1,166 shares of the company’s stock worth $647,000 after acquiring an additional 622 shares during the period. Allworth Financial LP raised its position in IDEXX Laboratories by 5.7% during the fourth quarter. Allworth Financial LP now owns 462 shares of the company’s stock valued at $256,000 after acquiring an additional 25 shares in the last quarter. Grimes & Company Inc. lifted its holdings in IDEXX Laboratories by 6.2% in the fourth quarter. Grimes & Company Inc. now owns 4,699 shares of the company’s stock valued at $2,608,000 after acquiring an additional 273 shares during the period. Finally, DekaBank Deutsche Girozentrale lifted its holdings in IDEXX Laboratories by 9.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 42,045 shares of the company’s stock valued at $23,307,000 after acquiring an additional 3,627 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now directly 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. 2.11% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on IDXX shares. Morgan Stanley cut their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. 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, William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and an average target price of $582.88.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded up $14.29 on Tuesday, reaching $469.37. 1,132,379 shares of the company were exchanged, compared to its average volume of 491,367. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The business has a 50-day moving average price of $487.80 and a 200 day moving average price of $514.33. The company has a market cap of $38.76 billion, a price-to-earnings ratio of 45.94, a P/E/G ratio of 3.91 and a beta of 1.32.

About IDEXX Laboratories

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.