BluePath Capital Management LLC Decreases Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

BluePath Capital Management LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,144 shares of the company’s stock after selling 53 shares during the quarter. BluePath Capital Management LLC’s holdings in IDEXX Laboratories were worth $618,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in IDXX. Valley National Advisers Inc. grew its holdings in IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after buying an additional 22 shares in the last quarter. Riverview Trust Co bought a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $26,000. Geo Capital Gestora de Recursos Ltd bought a new stake in shares of IDEXX Laboratories during the 3rd quarter valued at about $28,000. DSM Capital Partners LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at about $33,000. Finally, Venturi Wealth Management LLC boosted its position 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 acquiring an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Trading Up 0.1 %

IDXX stock traded up $0.26 during midday trading on Wednesday, hitting $477.49. The company had a trading volume of 296,793 shares, compared to its average volume of 473,008. 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 52 week low of $372.50 and a 52 week high of $583.39. The stock’s 50 day moving average price is $501.19 and its 200 day moving average price is $525.60. The stock has a market cap of $39.43 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 3.97 and a beta of 1.32.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 earnings per share 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 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 expect that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current fiscal year.

Insider Activity

In other 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 transaction, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.18% of the company’s stock.

Analysts Set New Price Targets

IDXX has been the subject of a number of research analyst reports. Morgan Stanley dropped their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Barclays dropped their price target 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. Stifel Nicolaus dropped their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $586.63.

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.