Handelsbanken Fonder AB Sells 1,782 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Handelsbanken Fonder AB lowered its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,051 shares of the company's stock after selling 1,782 shares during the quarter. Handelsbanken Fonder AB's holdings in IDEXX Laboratories were worth $15,140,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of IDXX. Norges Bank bought a new position in shares of IDEXX Laboratories during the 4th quarter worth approximately $412,258,000. GAMMA Investing LLC raised its holdings in shares of IDEXX Laboratories by 59,810.7% in the 1st quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock worth $3,856,950,000 after purchasing an additional 916,898 shares during the period. Flossbach Von Storch SE raised its holdings in shares of IDEXX Laboratories by 5,439.3% in the 4th quarter. Flossbach Von Storch SE now owns 473,336 shares of the company's stock worth $195,696,000 after purchasing an additional 464,791 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth approximately $156,412,000. Finally, William Blair Investment Management LLC raised its holdings in shares of IDEXX Laboratories by 701.6% in the 4th quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock worth $174,527,000 after purchasing an additional 369,471 shares during the period. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX traded down $4.22 during mid-day trading on Friday, reaching $522.70. 411,464 shares of the stock traded hands, compared to its average volume of 649,556. The firm has a fifty day moving average price of $473.11 and a 200 day moving average price of $444.30. The company has a market cap of $42.04 billion, a price-to-earnings ratio of 48.99, a price-to-earnings-growth ratio of 3.41 and a beta of 1.55. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $530.73.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a net margin of 22.78% and a return on equity of 55.82%. The company had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same period in the previous year, the business earned $2.71 earnings per share. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on IDXX. Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $460.00 to $510.00 and gave the stock a "hold" rating in a report on Monday, May 19th. Morgan Stanley lifted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. Wall Street Zen cut shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Leerink Partners lifted their price target on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $546.00.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the business'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 sale, the director now directly owns 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.98% of the stock is owned by company insiders.

IDEXX Laboratories 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.