Jefferies Financial Group Inc. Sells 7,067 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Key Points

• Jefferies Financial Group Inc. reduced its holdings in IDEXX Laboratories by 26.6%, selling a total of 7,067 shares in the first quarter, leaving them with 19,539 shares valued at approximately $8.2 million.
• IDEXX Laboratories reported a net revenue of $998.43 million for the quarter, a 3.6% increase year-over-year, and beat earnings expectations with $2.96 per share compared to estimates of $2.93.
• Analysts currently have a consensus price target of $557.88 for IDEXX Laboratories, with ratings ranging from hold to strong buy from multiple analysts.

Jefferies Financial Group Inc. cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 26.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,539 shares of the company's stock after selling 7,067 shares during the period. Jefferies Financial Group Inc.'s holdings in IDEXX Laboratories were worth $8,205,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Golden State Wealth Management LLC grew its holdings in shares of IDEXX Laboratories by 3,766.7% in the first quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock valued at $49,000 after acquiring an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC bought a new position in shares of IDEXX Laboratories in the first quarter valued at approximately $229,000. Banque Transatlantique SA bought a new position in shares of IDEXX Laboratories in the fourth quarter valued at approximately $2,681,000. Wealth Enhancement Advisory Services LLC grew its holdings in IDEXX Laboratories by 13.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock valued at $10,731,000 after purchasing an additional 2,931 shares during the period. Finally, GAMMA Investing LLC grew its holdings in IDEXX Laboratories by 42.7% during the first quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock valued at $918,000 after purchasing an additional 654 shares during the period. 87.84% of the stock is owned by institutional investors.

Insider Activity

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the sale, the director owned 1,801 shares in the company, valued at $922,724.34. This trade represents 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 this hyperlink. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Price Performance

Shares of IDXX stock traded up $1.23 on Friday, reaching $535.54. The company's stock had a trading volume of 760,497 shares, compared to its average volume of 556,641. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $579.47. The company has a market capitalization of $43.07 billion, a P/E ratio of 49.50, a PEG ratio of 3.81 and a beta of 1.49. The stock's 50 day simple moving average is $531.30 and its 200-day simple moving average is $471.80.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The company had revenue of $998.43 million for the quarter, compared to the consensus estimate of $998.25 million. During the same quarter last year, the business posted $2.71 earnings per share. The firm's revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the subject of several research reports. Wall Street Zen raised IDEXX Laboratories from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Morgan Stanley increased their price objective on IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a report on Monday, May 5th. Leerink Partners increased their price objective on IDEXX Laboratories from $580.00 to $600.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Jefferies Financial Group initiated coverage on IDEXX Laboratories in a report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price objective for the company. Finally, Stifel Nicolaus increased their price objective on IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a report on Wednesday, July 2nd. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $557.88.

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.