Teachers Retirement System of The State of Kentucky Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Teachers Retirement System of The State of Kentucky decreased its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 22.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,191 shares of the company’s stock after selling 7,388 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in IDEXX Laboratories were worth $14,142,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in IDXX. Vanguard Group Inc. raised its holdings in IDEXX Laboratories by 1.2% during the 1st 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 last quarter. Franklin Resources Inc. raised its holdings in IDEXX Laboratories by 2.1% during the 4th 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 last quarter. Capital World Investors raised its holdings in 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 buying an additional 11,351 shares during the last quarter. Norges Bank bought a new stake in IDEXX Laboratories during the 4th quarter valued at $512,190,000. Finally, International Assets Investment Management LLC raised 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 worth $304,075,000 after purchasing an additional 546,775 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Down 1.9 %

IDXX stock traded down $9.21 during trading on Friday, hitting $468.63. 827,133 shares of the stock traded hands, compared to its average volume of 527,028. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39. The firm’s 50 day moving average is $489.02 and its two-hundred day moving average is $514.86. The stock has a market cap of $38.70 billion, a price-to-earnings ratio of 45.37, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The company had revenue of $964.10 million for the quarter, compared to the consensus estimate of $965.43 million. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 11 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on IDXX. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. 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. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. 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. Three research 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $582.88.

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 shares were sold at an average price of $540.80, for a total transaction of $108,160.00. Following the sale, the director now owns 161 shares of the company’s stock, valued at approximately $87,068.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.11% of the stock is currently owned by insiders.

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.