Kentucky Retirement Systems Sells 342 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kentucky Retirement Systems decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,307 shares of the company’s stock after selling 342 shares during the period. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $3,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in IDEXX Laboratories by 2.0% in the third quarter. Wellington Management Group LLP now owns 3,486 shares of the company’s stock worth $1,524,000 after acquiring an additional 67 shares during the period. Mutual Advisors LLC bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $260,000. Schechter Investment Advisors LLC bought a new position in IDEXX Laboratories in the fourth quarter worth approximately $256,000. Procyon Advisors LLC raised its position in IDEXX Laboratories by 4.3% in the fourth quarter. Procyon Advisors LLC now owns 1,412 shares of the company’s stock worth $784,000 after acquiring an additional 58 shares during the period. Finally, Trueblood Wealth Management LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $228,000. Institutional investors own 87.84% of the company’s stock.

Insiders Place Their Bets

In related news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories 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 completion of the transaction, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IDXX shares. Stifel Nicolaus decreased their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Barclays decreased their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Morgan Stanley decreased their price objective on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $585.89.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX traded down $0.97 on Friday, reaching $469.71. The company’s stock had a trading volume of 588,415 shares, compared to its average volume of 478,889. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a market cap of $38.79 billion, a P/E ratio of 45.47, a PEG ratio of 3.84 and a beta of 1.32. The company has a 50-day simple moving average of $493.61 and a 200 day simple moving average of $517.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping 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 business had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 11 EPS for the current fiscal year.

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.