IDEXX Laboratories, Inc. (NASDAQ:IDXX) Position Trimmed by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,741 shares of the company’s stock after selling 219 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in IDEXX Laboratories were worth $1,480,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in IDXX. Wellington Management Group LLP lifted its position in IDEXX Laboratories by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,486 shares of the company’s stock worth $1,524,000 after acquiring an additional 67 shares during the last quarter. Mutual Advisors LLC acquired a new stake in shares of IDEXX Laboratories in the 4th quarter valued at $260,000. Schechter Investment Advisors LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $256,000. Procyon Advisors LLC increased its stake in shares of IDEXX Laboratories by 4.3% in the fourth quarter. Procyon Advisors LLC now owns 1,412 shares of the company’s stock valued at $784,000 after buying an additional 58 shares in the last quarter. Finally, Trueblood Wealth Management LLC acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $228,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the sale, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX traded down $0.97 on Friday, reaching $469.71. The company had a trading volume of 588,415 shares, compared to its average volume of 478,889. 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 stock has a market cap of $38.79 billion, a P/E ratio of 45.47, a P/E/G ratio of 3.84 and a beta of 1.32. The company’s fifty day moving average is $493.61 and its 200 day moving average is $517.16. IDEXX Laboratories, Inc. has a fifty-two week low of $372.50 and a fifty-two week high of $583.39.

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. The firm had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report 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. BTIG Research assumed coverage on IDEXX Laboratories in a research report on Thursday. They set a “buy” rating and a $580.00 target price for the company. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Barclays reduced their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.