Avanza Fonder AB Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Avanza Fonder AB lessened its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 15.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,496 shares of the company's stock after selling 1,006 shares during the period. Avanza Fonder AB's holdings in IDEXX Laboratories were worth $2,343,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IDXX. Norges Bank purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $412,258,000. GAMMA Investing LLC increased its stake in IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after purchasing an additional 916,898 shares during the last quarter. Flossbach Von Storch SE lifted its position in IDEXX Laboratories by 5,439.3% during the fourth quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock worth $195,696,000 after buying an additional 464,791 shares during the period. Alyeska Investment Group L.P. acquired a new stake in IDEXX Laboratories in the 4th quarter worth about $156,412,000. Finally, William Blair Investment Management LLC grew its holdings in IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after buying an additional 369,471 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

IDXX has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on shares of 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 increased their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the company a "hold" rating in a report on Monday, May 19th. Wall Street Zen lowered IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Finally, Leerink Partners upped their target price on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday. Four analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $546.00.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX traded up $2.74 during trading on Thursday, reaching $526.92. 379,293 shares of the stock were exchanged, compared to its average volume of 649,762. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $466.92 and a 200-day moving average price of $442.89. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $530.73. The firm has a market cap of $42.38 billion, a PE ratio of 49.38, a PEG ratio of 3.41 and a beta of 1.55.

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 analysts' consensus estimates of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. IDEXX Laboratories's quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.71 EPS. Research analysts expect that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 1,801 shares of the company's stock, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.98% of the company's stock.

IDEXX Laboratories Company 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.