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

Kentucky Retirement Systems trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 5,734 shares of the company’s stock after selling 489 shares during the quarter. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $2,897,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Eads & Heald Wealth Management lifted its stake in IDEXX Laboratories by 0.8% in the 2nd quarter. Eads & Heald Wealth Management now owns 2,686 shares of the company’s stock worth $1,309,000 after purchasing an additional 22 shares in the last quarter. LRI Investments LLC lifted its position in IDEXX Laboratories by 21.7% during the second quarter. LRI Investments LLC now owns 129 shares of the company’s stock worth $63,000 after buying an additional 23 shares in the last quarter. Sovereign Financial Group Inc. boosted its stake in IDEXX Laboratories by 5.1% during the third quarter. Sovereign Financial Group Inc. now owns 470 shares of the company’s stock worth $237,000 after buying an additional 23 shares during the last quarter. Mather Group LLC. grew its holdings in IDEXX Laboratories by 3.9% in the 3rd quarter. Mather Group LLC. now owns 617 shares of the company’s stock valued at $312,000 after buying an additional 23 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its holdings in IDEXX Laboratories by 2.4% in the 3rd quarter. Angeles Wealth Management LLC now owns 1,078 shares of the company’s stock valued at $545,000 after purchasing an additional 25 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

IDEXX Laboratories Stock Down 0.6 %

IDEXX Laboratories stock opened at $420.91 on Monday. The firm has a market capitalization 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. The stock’s fifty day simple moving average is $468.32 and its 200-day simple moving average is $482.83. IDEXX Laboratories, Inc. has a twelve month low of $404.74 and a twelve month high of $583.39. The company has a current ratio of 1.42, a quick ratio of 1.03 and a debt-to-equity ratio of 0.32.

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

About IDEXX Laboratories

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.