1832 Asset Management L.P. Sells 2,001 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

1832 Asset Management L.P. lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 40.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,993 shares of the company’s stock after selling 2,001 shares during the period. 1832 Asset Management L.P.’s holdings in IDEXX Laboratories were worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth $512,190,000. International Assets Investment Management LLC boosted its holdings in IDEXX Laboratories by 51,631.3% in the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after purchasing an additional 546,775 shares during the period. Capital Research Global Investors acquired a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $135,910,000. TD Asset Management Inc increased its holdings in shares of IDEXX Laboratories by 178.8% during the fourth quarter. TD Asset Management Inc now owns 260,008 shares of the company’s stock worth $144,317,000 after purchasing an additional 166,751 shares during the period. Finally, Point72 Asset Management L.P. acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $78,001,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Bruce L. Claflin sold 200 shares of the 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 sale, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

IDXX has been the topic of a number of analyst reports. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Barclays decreased their price target 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. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday. They set a “buy” rating and a $580.00 price objective for the company. Morgan Stanley reduced their price objective on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Finally, Stifel Nicolaus dropped their target price 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. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $585.89.

IDEXX Laboratories Trading Down 0.2 %

IDEXX Laboratories stock traded down $0.97 during trading hours on Friday, hitting $469.71. The stock had a trading volume of 588,415 shares, compared to its average volume of 478,889. The business’s 50 day simple moving average is $493.61 and its 200-day simple moving average is $517.16. The stock has a market cap of $38.79 billion, a price-to-earnings ratio of 45.47, a P/E/G ratio of 3.84 and a beta of 1.32. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The company had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 11 EPS for the current fiscal year.

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.