DNB Asset Management AS Sells 6,649 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

DNB Asset Management AS lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 32.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,760 shares of the company’s stock after selling 6,649 shares during the period. DNB Asset Management AS’s holdings in IDEXX Laboratories were worth $6,704,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in IDXX. GAMMA Investing LLC lifted its stake in IDEXX Laboratories by 96.6% in the second quarter. GAMMA Investing LLC now owns 1,170 shares of the company’s stock valued at $570,000 after buying an additional 575 shares in the last quarter. Red Spruce Capital LLC boosted its stake in IDEXX Laboratories by 7.1% in the 2nd quarter. Red Spruce Capital LLC now owns 1,892 shares of the company’s stock worth $922,000 after purchasing an additional 126 shares during the period. Old Port Advisors increased its holdings in IDEXX Laboratories by 5.5% during the 1st quarter. Old Port Advisors now owns 7,246 shares of the company’s stock worth $3,912,000 after purchasing an additional 379 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in IDEXX Laboratories by 24.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 52,257 shares of the company’s stock worth $28,026,000 after purchasing an additional 10,212 shares in the last quarter. Finally, EULAV Asset Management lifted its holdings in shares of IDEXX Laboratories by 13.1% in the first quarter. EULAV Asset Management now owns 120,015 shares of the company’s stock valued at $64,800,000 after purchasing an additional 13,903 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total transaction of $108,160.00. Following the completion of the sale, the director now directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

IDXX has been the topic of a number of recent research reports. Barclays dropped their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Morgan Stanley cut their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $582.88.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX traded up $14.29 during mid-day trading on Tuesday, reaching $469.37. 1,132,379 shares of the company were exchanged, compared to its average volume of 491,367. The stock has a market capitalization of $38.76 billion, a P/E ratio of 45.94, a P/E/G ratio of 3.91 and a beta of 1.32. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company’s 50-day simple moving average is $487.80 and its 200-day simple moving average is $514.33. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39.

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.