AE Wealth Management LLC Cuts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• AE Wealth Management LLC reduced its holdings in IDEXX Laboratories by 16.1%, selling 1,130 shares and now owning 5,905 shares worth approximately $2.48 million.
• IDEXX Laboratories' stock price is currently up 2.8%, trading at $565.19, with a market capitalization of $45.45 billion.
• The company reported earnings of $2.96 per share, exceeding analysts' expectations, with revenue up 3.6% year over year at $998.43 million.

AE Wealth Management LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 16.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,905 shares of the company's stock after selling 1,130 shares during the quarter. AE Wealth Management LLC's holdings in IDEXX Laboratories were worth $2,480,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IDXX. Norges Bank purchased a new position in IDEXX Laboratories during the fourth quarter valued at approximately $412,258,000. GAMMA Investing LLC raised its position in IDEXX Laboratories by 59,810.7% during the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after acquiring an additional 916,898 shares in the last quarter. Principal Financial Group Inc. raised its position in IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after acquiring an additional 414,802 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in IDEXX Laboratories during the fourth quarter valued at approximately $156,412,000. Finally, BNP Paribas Financial Markets raised its position in IDEXX Laboratories by 221.3% during the fourth quarter. BNP Paribas Financial Markets now owns 441,319 shares of the company's stock valued at $182,459,000 after acquiring an additional 303,966 shares in the last quarter. Institutional investors and hedge funds own 87.84% of the company's stock.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the transaction, the director owned 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent analyst reports. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective for the company. Morgan Stanley boosted their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Stifel Nicolaus lifted their price target on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Leerink Partners lifted their price target on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Finally, Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $557.88.

IDEXX Laboratories Trading Up 2.8%

NASDAQ IDXX traded up $15.22 on Friday, reaching $565.19. 1,071,473 shares of the company were exchanged, compared to its average volume of 425,413. The business's fifty day moving average price is $526.59 and its 200 day moving average price is $467.17. The stock has a market capitalization of $45.45 billion, a P/E ratio of 52.24, a price-to-earnings-growth ratio of 4.11 and a beta of 1.54. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $568.47.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. During the same quarter in the prior year, the company posted $2.71 EPS. The company's quarterly revenue was up 3.6% on a year-over-year basis. Analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current 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.