Ninety One UK Ltd Cuts Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Ninety One UK Ltd cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,609 shares of the company's stock after selling 6,423 shares during the period. Ninety One UK Ltd owned approximately 0.08% of IDEXX Laboratories worth $27,133,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in IDXX. Norges Bank bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $412,258,000. GAMMA Investing LLC raised its stake in shares of IDEXX Laboratories by 59,810.7% during the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company's stock valued at $3,856,950,000 after acquiring an additional 916,898 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of IDEXX Laboratories by 58.3% during the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company's stock valued at $472,865,000 after acquiring an additional 414,802 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at about $156,412,000. Finally, William Blair Investment Management LLC raised its stake in shares of IDEXX Laboratories by 701.6% during the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company's stock valued at $174,527,000 after acquiring an additional 369,471 shares during the last quarter. 87.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director owned 1,801 shares in the company, valued at approximately $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.98% of the company's stock.

IDEXX Laboratories Stock Up 0.1%

IDXX traded up $0.45 during midday trading on Thursday, reaching $541.09. The company's stock had a trading volume of 290,200 shares, compared to its average volume of 647,610. The firm has a market capitalization of $43.51 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 3.94 and a beta of 1.54. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a 1 year low of $356.14 and a 1 year high of $549.52. The stock's 50-day moving average is $517.06 and its 200-day moving average is $457.26.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on IDXX shares. Wall Street Zen downgraded shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Leerink Partners upped their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday, June 11th. Stifel Nicolaus boosted their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research report on Wednesday, July 2nd. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research report on Tuesday, July 1st. They set a "buy" rating and a $625.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $558.11.

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.