Axxcess Wealth Management LLC Has $1.29 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Axxcess Wealth Management LLC cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,395 shares of the company’s stock after selling 1,370 shares during the period. Axxcess Wealth Management LLC’s holdings in IDEXX Laboratories were worth $1,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in IDEXX Laboratories by 1.2% in the first quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock valued at $4,576,476,000 after buying an additional 98,387 shares during the period. Franklin Resources Inc. lifted its holdings in IDEXX Laboratories by 2.1% in the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after buying an additional 28,475 shares during the period. Capital World Investors lifted its holdings in IDEXX Laboratories by 1.1% in the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after buying an additional 11,351 shares during the period. Norges Bank acquired a new position in IDEXX Laboratories in the fourth quarter valued at $512,190,000. Finally, International Assets Investment Management LLC lifted its holdings in IDEXX Laboratories by 51,631.3% in the fourth quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock valued at $304,075,000 after buying an additional 546,775 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on IDXX shares. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. BTIG Research started coverage on shares of IDEXX Laboratories in a research note on Thursday. They issued a “buy” rating and a $580.00 price target for the company. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Barclays decreased their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Finally, Morgan Stanley decreased their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research note on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $585.89.

IDEXX Laboratories Stock Performance

IDXX traded down $0.97 during midday trading on Friday, reaching $469.71. The company had a trading volume of 588,415 shares, compared to its average volume of 478,889. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The stock has a market cap of $38.79 billion, a PE ratio of 45.47, a P/E/G ratio of 3.85 and a beta of 1.32. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39. The business has a 50-day moving average price of $493.61 and a two-hundred day moving average price of $517.41.

IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11 earnings per share for the current fiscal year.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the sale, the director now directly owns 161 shares in the company, valued at approximately $87,068.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.11% 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.