State of Alaska Department of Revenue Sells 1,300 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

State of Alaska Department of Revenue trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.3% in the first quarter, Holdings Channel reports. The fund 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.

Other large investors also recently modified their holdings of the company. Valley National Advisers Inc. grew its position in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the period. Riverview Trust Co bought a new stake in IDEXX Laboratories in the 1st quarter valued at $26,000. Geo Capital Gestora de Recursos Ltd bought a new stake in IDEXX Laboratories in the 3rd quarter valued at $28,000. DSM Capital Partners LLC acquired a new position in IDEXX Laboratories in the 4th quarter worth $33,000. Finally, Venturi Wealth Management LLC increased its holdings in IDEXX Laboratories by 226.3% during the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 43 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

Insider Transactions at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the sale, the director now owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on IDXX shares. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Morgan Stanley reduced their price target on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Barclays lowered their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $586.63.

IDEXX Laboratories Stock Performance

NASDAQ IDXX traded up $0.26 on Wednesday, hitting $477.49. 296,793 shares of the stock were exchanged, compared to its average volume of 473,008. The company has a market capitalization of $39.43 billion, a PE ratio of 46.22, a P/E/G ratio of 3.97 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. The business’s fifty day moving average is $501.19 and its 200 day moving average is $525.60. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $965.43 million. Research analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 EPS for the current fiscal year.

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.