Retirement Systems of Alabama Sells 339 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Retirement Systems of Alabama reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,880 shares of the company’s stock after selling 339 shares during the quarter. Retirement Systems of Alabama’s holdings in IDEXX Laboratories were worth $9,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chicago Partners Investment Group LLC lifted its holdings in IDEXX Laboratories by 16.7% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 672 shares of the company’s stock valued at $340,000 after buying an additional 96 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in IDEXX Laboratories by 13.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 11,957 shares of the company’s stock valued at $5,825,000 after purchasing an additional 1,453 shares during the period. National Pension Service raised its holdings in shares of IDEXX Laboratories by 7.3% in the 3rd quarter. National Pension Service now owns 185,972 shares of the company’s stock valued at $93,957,000 after purchasing an additional 12,647 shares in the last quarter. EFG Asset Management Americas Corp. lifted its position in shares of IDEXX Laboratories by 45.3% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 12,728 shares of the company’s stock worth $6,201,000 after purchasing an additional 3,966 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of IDEXX Laboratories by 17,238.5% during the third quarter. Larson Financial Group LLC now owns 2,254 shares of the company’s stock valued at $1,139,000 after purchasing an additional 2,241 shares in the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at IDEXX Laboratories

In other news, Director Sophie V. Vandebroek sold 344 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $420.44, for a total value of $144,631.36. Following the sale, the director now owns 905 shares in the company, valued at $380,498.20. This represents a 27.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Down 0.4 %

NASDAQ:IDXX opened at $430.47 on Tuesday. The company’s 50 day moving average is $438.71 and its two-hundred day moving average is $470.89. The company has a market cap of $35.25 billion, a PE ratio of 41.51, a P/E/G ratio of 3.99 and a beta of 1.37. IDEXX Laboratories, Inc. has a twelve month low of $398.50 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 released its earnings results on Thursday, October 31st. The company reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.11. IDEXX Laboratories had a return on equity of 55.42% and a net margin of 22.53%. The firm had revenue of $975.50 million for the quarter, compared to the consensus estimate of $980.32 million. During the same period in the prior year, the firm earned $2.53 EPS. The firm’s revenue was up 6.6% on a year-over-year basis. Analysts anticipate that IDEXX Laboratories, Inc. will post 10.44 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Stifel Nicolaus lowered their target price on IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating for the company in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their price objective on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating for the company in a research note on Friday, October 11th. Leerink Partners assumed coverage on IDEXX Laboratories in a research note on Monday, December 2nd. They issued an “outperform” rating and a $500.00 target price on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Thursday, November 28th. Finally, Barclays cut their price objective on shares of IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $539.63.

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.