Bank of New York Mellon Corp Sells 10,462 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Bank of New York Mellon Corp cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 1.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 566,582 shares of the company's stock after selling 10,462 shares during the quarter. Bank of New York Mellon Corp owned 0.70% of IDEXX Laboratories worth $237,936,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories in the first quarter valued at about $26,000. Hurley Capital LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth about $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter worth about $30,000. Colonial Trust Co SC raised its position in shares of IDEXX Laboratories by 84.8% during the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after acquiring an additional 39 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in shares of IDEXX Laboratories by 540.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 96 shares of the company's stock worth $40,000 after acquiring an additional 81 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Trading Down 0.3%

Shares of IDXX stock opened at $545.56 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. IDEXX Laboratories, Inc. has a fifty-two week low of $356.14 and a fifty-two week high of $549.52. The stock has a 50 day simple moving average of $512.86 and a two-hundred day simple moving average of $456.11. The company has a market cap of $43.88 billion, a P/E ratio of 50.42, a PEG ratio of 3.99 and a beta of 1.54.

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

Insider Activity

In related news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the transaction, the director owned 1,801 shares of the company's stock, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of analyst reports. Stifel Nicolaus raised their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the stock a "hold" rating in a research report on Wednesday, July 2nd. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Leerink Partners raised their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 11th. Finally, Morgan Stanley raised their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.