IDEXX Laboratories, Inc. (NASDAQ:IDXX) Stake Reduced by Great Lakes Advisors LLC

Great Lakes Advisors LLC trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 11.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,603 shares of the company’s stock after selling 895 shares during the quarter. Great Lakes Advisors LLC’s holdings in IDEXX Laboratories were worth $4,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sowell Financial Services LLC grew its position in IDEXX Laboratories by 11.6% in the 1st quarter. Sowell Financial Services LLC now owns 618 shares of the company’s stock worth $330,000 after purchasing an additional 64 shares during the last quarter. D.A. Davidson & CO. bought a new position in IDEXX Laboratories in the 1st quarter worth approximately $768,000. Cambridge Investment Research Advisors Inc. increased its position in IDEXX Laboratories by 3.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,741 shares of the company’s stock valued at $2,809,000 after acquiring an additional 197 shares during the period. Advisors Asset Management Inc. raised its stake in IDEXX Laboratories by 24.0% during the 1st quarter. Advisors Asset Management Inc. now owns 6,131 shares of the company’s stock valued at $3,000,000 after acquiring an additional 1,186 shares in the last quarter. Finally, Phoenix Holdings Ltd. boosted its position in IDEXX Laboratories by 6.5% during the 1st quarter. Phoenix Holdings Ltd. now owns 522 shares of the company’s stock worth $248,000 after acquiring an additional 32 shares during the period. 84.70% of the stock is owned by institutional investors.

In other news, EVP Nimrata Hunt sold 538 shares of IDEXX Laboratories stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $703.00, for a total transaction of $378,214.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Giovani Twigge sold 11,421 shares of the firm’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $700.35, for a total value of $7,998,697.35. The disclosure for this sale can be found here. Insiders have sold 26,886 shares of company stock worth $18,646,894 over the last ninety days. 2.06% of the stock is owned by insiders.

A number of equities research analysts recently weighed in on the stock. Guggenheim cut shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, July 12th. The Goldman Sachs Group upped their price target on shares of IDEXX Laboratories from $550.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 3rd. Credit Suisse Group increased their price objective on shares of IDEXX Laboratories from $735.00 to $770.00 and gave the company an “outperform” rating in a report on Friday, August 13th. Finally, Barclays upped their target price on IDEXX Laboratories from $616.00 to $750.00 and gave the stock an “overweight” rating in a research report on Monday, August 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $643.80.

Shares of IDXX opened at $679.64 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.54 and a quick ratio of 1.17. The firm’s 50 day moving average is $678.38 and its 200-day moving average is $597.07. IDEXX Laboratories, Inc. has a 12-month low of $364.58 and a 12-month high of $706.95. The stock has a market capitalization of $57.82 billion, a P/E ratio of 81.01, a P/E/G ratio of 4.10 and a beta of 0.92.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Friday, July 30th. The company reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.01 by $0.33. IDEXX Laboratories had a net margin of 23.89% and a return on equity of 115.28%. The firm had revenue of $826.14 million during the quarter, compared to analysts’ expectations of $794.64 million. During the same period last year, the firm posted $1.72 earnings per share. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, equities research analysts forecast that IDEXX Laboratories, Inc. will post 8.35 EPS for the current fiscal year.

About IDEXX Laboratories

IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: CAG, Water, LPD, and Other. The CAG segment develops, designs, manufactures, and distributes products and performs services for veterinarians and the biomedical analytics market, primarily related to diagnostics and information management.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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