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

Kentucky Retirement Systems Insurance Trust Fund trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,437 shares of the company’s stock after selling 227 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in IDEXX Laboratories were worth $1,231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Avantax Advisory Services Inc. lifted its stake in IDEXX Laboratories by 24.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 787 shares of the company’s stock valued at $425,000 after buying an additional 155 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of IDEXX Laboratories by 3.1% during the first quarter. Orion Portfolio Solutions LLC now owns 3,001 shares of the company’s stock worth $1,620,000 after purchasing an additional 91 shares in the last quarter. Intech Investment Management LLC raised its stake in IDEXX Laboratories by 154.2% in the 1st quarter. Intech Investment Management LLC now owns 4,090 shares of the company’s stock valued at $2,208,000 after purchasing an additional 2,481 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in IDEXX Laboratories by 83.0% in the 1st quarter. Acadian Asset Management LLC now owns 4,219 shares of the company’s stock valued at $2,276,000 after purchasing an additional 1,913 shares in the last quarter. Finally, Edgestream Partners L.P. boosted its stake in IDEXX Laboratories by 124.6% during the 1st quarter. Edgestream Partners L.P. now owns 2,035 shares of the company’s stock worth $1,099,000 after purchasing an additional 1,129 shares during the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on IDXX shares. Piper Sandler reiterated a “neutral” rating and issued a $435.00 target price (down from $520.00) on shares of IDEXX Laboratories in a research report on Monday, November 4th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a research note on Friday, October 11th. Finally, Barclays cut their target price on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating for the company in a research note on Monday, November 4th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $552.38.

IDEXX Laboratories Trading Down 0.6 %

NASDAQ IDXX opened at $420.91 on Monday. The company has a market cap of $34.47 billion, a P/E ratio of 40.59, a P/E/G ratio of 3.67 and a beta of 1.36. IDEXX Laboratories, Inc. has a 12 month low of $404.74 and a 12 month high of $583.39. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.42 and a quick ratio of 1.03. The company has a 50-day moving average of $468.32 and a 200-day moving average of $482.83.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $0.11. The firm had revenue of $975.50 million during the quarter, compared to the consensus estimate of $980.32 million. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.53 earnings per share. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current 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.