Arcadia Investment Management Corp MI Lowers Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Arcadia Investment Management Corp MI reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 78.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 234 shares of the company's stock after selling 875 shares during the period. Arcadia Investment Management Corp MI's holdings in IDEXX Laboratories were worth $98,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in IDEXX Laboratories during the 4th quarter valued at about $412,258,000. GAMMA Investing LLC boosted its holdings in IDEXX Laboratories by 59,810.7% during the 1st 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 during the period. Principal Financial Group Inc. boosted its holdings in IDEXX Laboratories by 58.3% during the 1st 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 during the period. Alyeska Investment Group L.P. purchased a new position in IDEXX Laboratories during the 4th quarter valued at about $156,412,000. Finally, William Blair Investment Management LLC boosted its holdings in IDEXX Laboratories by 701.6% during the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after acquiring an additional 369,471 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the sale, the director directly 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 Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is currently owned by company insiders.

IDEXX Laboratories Stock Up 0.1%

Shares of NASDAQ:IDXX traded up $0.45 during trading on Thursday, hitting $541.09. 290,200 shares of the company were exchanged, compared to its average volume of 647,610. The stock has a market capitalization of $43.51 billion, a P/E ratio of 50.01, a PEG ratio of 3.94 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $549.52. The firm's 50 day moving average price is $518.45 and its 200-day moving average price is $458.14.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share for the quarter, topping the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The company's revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.71 EPS. On average, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on IDXX. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Leerink Partners boosted their price target on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus upped their target price on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research note on Wednesday, July 2nd. Finally, Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $558.11.

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.