Brown Advisory Inc. Sells 4,932 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Brown Advisory Inc. cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 119,169 shares of the company's stock after selling 4,932 shares during the period. Brown Advisory Inc. owned approximately 0.15% of IDEXX Laboratories worth $50,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MorganRosel Wealth Management LLC bought a new position in IDEXX Laboratories during the first quarter worth about $26,000. Hurley Capital LLC bought a new position in IDEXX Laboratories during the fourth quarter worth about $29,000. Colonial Trust Co SC lifted its holdings in 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 in the last quarter. Itau Unibanco Holding S.A. lifted its holdings in 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 in the last quarter. Finally, Retirement Wealth Solutions LLC lifted its holdings in IDEXX Laboratories by 40.0% during the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock worth $44,000 after acquiring an additional 30 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Up 0.3%

Shares of NASDAQ:IDXX traded up $1.80 during midday trading on Wednesday, hitting $540.64. The stock had a trading volume of 435,055 shares, compared to its average volume of 646,346. IDEXX Laboratories, Inc. has a 12 month low of $356.14 and a 12 month high of $549.52. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. The business's 50-day simple moving average is $514.90 and its 200-day simple moving average is $456.68. The company has a market cap of $43.48 billion, a P/E ratio of 49.97, a PEG ratio of 3.98 and a beta of 1.54.

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

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the completion of the transaction, the director directly owned 1,801 shares of the company's stock, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company's stock.

Wall Street Analyst Weigh In

IDXX has been the topic of several recent research reports. Leerink Partners lifted their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Morgan Stanley boosted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a research report on Friday, May 30th. Stifel Nicolaus raised their price target 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 assumed coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target for the company. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $558.11.

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.