New York State Teachers Retirement System Cuts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

New York State Teachers Retirement System lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 6.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 67,520 shares of the company's stock after selling 4,642 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of IDEXX Laboratories worth $28,355,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hurley Capital LLC purchased a new stake in IDEXX Laboratories during the 4th quarter valued at about $29,000. Rialto Wealth Management LLC bought a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $30,000. Colonial Trust Co SC lifted its stake in shares of IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company's stock worth $35,000 after buying an additional 39 shares in the last quarter. Itau Unibanco Holding S.A. grew its holdings 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 valued at $40,000 after buying an additional 81 shares during the last quarter. Finally, Retirement Wealth Solutions LLC increased its position in shares of IDEXX Laboratories by 40.0% during the first quarter. Retirement Wealth Solutions LLC now owns 105 shares of the company's stock valued at $44,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Leerink Partners upped their price objective on IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. Jefferies Financial Group assumed coverage on IDEXX Laboratories in a report on Tuesday. They set a "buy" rating and a $625.00 price target on the stock. Wall Street Zen downgraded IDEXX Laboratories from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Morgan Stanley boosted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, Stifel Nicolaus lifted 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. Four research 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.com, IDEXX Laboratories presently has an average rating of "Moderate Buy" and a consensus target price of $558.11.

Insider Buying and Selling at IDEXX Laboratories

In related news, Director M Anne Szostak sold 1,260 shares of the business'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 transaction of $645,548.40. Following the completion of the transaction, the director directly owned 1,801 shares in the company, valued at approximately $922,724.34. The trade was a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.98% of the stock is currently owned by insiders.

IDEXX Laboratories Stock Performance

Shares of NASDAQ IDXX traded up $3.60 during midday trading on Friday, hitting $546.31. 339,027 shares of the company's stock traded hands, compared to its average volume of 645,880. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $548.54. The stock has a market capitalization of $43.94 billion, a price-to-earnings ratio of 50.49, a price-to-earnings-growth ratio of 3.96 and a beta of 1.54. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.81 and a current ratio of 1.16. The firm has a fifty day moving average of $508.45 and a 200 day moving average of $453.73.

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, beating analysts' consensus estimates of $2.93 by $0.03. The firm had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.71 EPS. On average, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current year.

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.