Park Avenue Securities LLC Lowers Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Park Avenue Securities LLC lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,607 shares of the company’s stock after selling 43 shares during the quarter. Park Avenue Securities LLC’s holdings in IDEXX Laboratories were worth $1,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IDXX. Valley National Advisers Inc. grew its position in IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after acquiring an additional 22 shares during the period. Riverview Trust Co acquired a new stake in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Crewe Advisors LLC purchased a new position in IDEXX Laboratories in the first quarter valued at approximately $26,000. Institutional & Family Asset Management LLC acquired a new position in IDEXX Laboratories during the second quarter valued at approximately $28,000. Finally, DSM Capital Partners LLC purchased a new stake in IDEXX Laboratories during the fourth quarter worth approximately $33,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Performance

IDXX stock traded down $2.30 on Wednesday, reaching $467.07. The company’s stock had a trading volume of 648,661 shares, compared to its average volume of 492,411. The firm has a fifty day moving average of $487.07 and a two-hundred day moving average of $513.95. 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 company has a market capitalization of $38.57 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. 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 quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company posted $2.67 earnings per share. The company’s revenue was up 6.4% on a year-over-year basis. As a group, analysts predict that IDEXX Laboratories, Inc. will post 11 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction 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 sale, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.11% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Morgan Stanley decreased their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Stifel Nicolaus dropped their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, BTIG Research initiated coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $582.88.

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.