Geneva Capital Management LLC Sells 1,095 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Geneva Capital Management LLC lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.0% in the 1st quarter, Holdings Channel reports. The firm owned 54,747 shares of the company’s stock after selling 1,095 shares during the period. Geneva Capital Management LLC’s holdings in IDEXX Laboratories were worth $29,559,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. McClarren Financial Advisors Inc. raised its holdings in shares of IDEXX Laboratories by 191.9% during the first quarter. McClarren Financial Advisors Inc. now owns 540 shares of the company’s stock valued at $292,000 after purchasing an additional 355 shares during the last quarter. Csenge Advisory Group lifted its position in shares of IDEXX Laboratories by 21.4% during the 1st quarter. Csenge Advisory Group now owns 943 shares of the company’s stock valued at $509,000 after buying an additional 166 shares in the last quarter. TFB Advisors LLC purchased a new position in IDEXX Laboratories during the first quarter valued at approximately $294,000. Mediolanum International Funds Ltd purchased a new stake in shares of IDEXX Laboratories in the first quarter worth $10,092,000. Finally, Rehmann Capital Advisory Group raised its position in shares of IDEXX Laboratories by 3.1% during the 1st quarter. Rehmann Capital Advisory Group now owns 985 shares of the company’s stock valued at $532,000 after purchasing an additional 30 shares during the period. 87.84% of the stock is owned by institutional investors.

IDEXX Laboratories Stock Up 0.9 %

Shares of IDXX traded up $4.39 during midday trading on Thursday, reaching $487.78. 409,403 shares of the stock were exchanged, compared to its average volume of 467,489. The company has a market capitalization of $40.29 billion, a P/E ratio of 47.34, a PEG ratio of 3.95 and a beta of 1.32. 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 company’s 50 day moving average is $499.93 and its two-hundred day moving average is $523.00.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Wednesday, May 1st. The company reported $2.81 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 business had revenue of $964.10 million for the quarter, compared to the consensus estimate of $965.43 million. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Bruce L. Claflin sold 200 shares of the business’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 completion of the transaction, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.18% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on IDXX. Barclays dropped their target price on shares of 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 target price 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. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories currently has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

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.