IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,549 shares of the company’s stock after selling 107 shares during the quarter. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $2,330,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IDXX. Vantage Investment Partners LLC bought a new position in shares of IDEXX Laboratories in the first quarter worth $22,348,000. Center For Asset Management LLC bought a new stake in shares of IDEXX Laboratories during the first quarter valued at about $226,000. Suncoast Equity Management lifted its holdings in IDEXX Laboratories by 16.6% in the first quarter. Suncoast Equity Management now owns 1,777 shares of the company’s stock worth $746,000 after purchasing an additional 253 shares during the period. World Equity Group Inc. bought a new position in IDEXX Laboratories in the 1st quarter valued at about $247,000. Finally, Norway Savings Bank grew its position in IDEXX Laboratories by 4.0% in the 1st quarter. Norway Savings Bank now owns 3,438 shares of the company’s stock valued at $1,444,000 after buying an additional 131 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on IDXX shares. Leerink Partners increased their target price on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, June 11th. Morgan Stanley increased their price objective on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Stifel Nicolaus upped their target price on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a research report on Monday, May 19th. Finally, Wall Street Zen lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Four analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $546.00.

IDEXX Laboratories Stock Up 0.1%

IDXX stock opened at $524.65 on Tuesday. The firm has a market cap of $42.19 billion, a PE ratio of 48.49, a P/E/G ratio of 3.83 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $530.73. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. The firm has a 50 day simple moving average of $489.21 and a 200 day simple moving average of $448.49.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, beating analysts’ consensus estimates of $2.93 by $0.03. The business had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. IDEXX Laboratories’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $2.71 EPS. Equities research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the business’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the sale, the director now directly owns 1,801 shares of the company’s stock, valued at $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

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.