IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Lessened by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,648 shares of the company’s stock after selling 1,300 shares during the period. State of Alaska Department of Revenue’s holdings in IDEXX Laboratories were worth $6,828,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in IDXX. Franklin Resources Inc. raised its stake in shares of IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock worth $780,303,000 after buying an additional 28,475 shares in the last quarter. Morgan Stanley boosted its position in shares of IDEXX Laboratories by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after purchasing an additional 48,095 shares in the last quarter. Capital World Investors boosted its position in shares of IDEXX Laboratories by 1.1% during the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after purchasing an additional 11,351 shares in the last quarter. Norges Bank acquired a new position in shares of IDEXX Laboratories in the 4th quarter worth approximately $512,190,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of IDEXX Laboratories by 8.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock worth $350,373,000 after purchasing an additional 65,760 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IDXX. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Barclays decreased their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley reduced their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Stifel Nicolaus dropped their price target on 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, StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $586.63.

IDEXX Laboratories Stock Up 0.1 %

NASDAQ:IDXX traded up $0.26 on Wednesday, hitting $477.49. 296,793 shares of the company’s stock traded hands, compared to its average volume of 473,008. The firm has a 50-day moving average price of $501.19 and a 200-day moving average price of $525.60. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The company has a market cap of $39.43 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 3.97 and a beta of 1.32. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released 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 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%. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 EPS for the current fiscal year.

Insider Activity at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

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.