Pittenger & Anderson Inc. Cuts Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pittenger & Anderson Inc. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 5.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,411 shares of the company's stock after selling 613 shares during the period. Pittenger & Anderson Inc.'s holdings in IDEXX Laboratories were worth $4,372,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. United Capital Financial Advisors LLC lifted its stake in shares of IDEXX Laboratories by 0.9% in the 4th quarter. United Capital Financial Advisors LLC now owns 2,446 shares of the company's stock valued at $1,011,000 after purchasing an additional 22 shares during the period. PDS Planning Inc lifted its position in IDEXX Laboratories by 3.9% during the first quarter. PDS Planning Inc now owns 641 shares of the company's stock worth $269,000 after acquiring an additional 24 shares during the last quarter. Gabelli Funds LLC raised its position in shares of IDEXX Laboratories by 5.3% in the fourth quarter. Gabelli Funds LLC now owns 500 shares of the company's stock valued at $207,000 after buying an additional 25 shares in the last quarter. Bigelow Investment Advisors LLC raised its position in shares of IDEXX Laboratories by 1.9% in the first quarter. Bigelow Investment Advisors LLC now owns 1,420 shares of the company's stock valued at $596,000 after buying an additional 27 shares in the last quarter. Finally, Forum Financial Management LP raised its position in IDEXX Laboratories by 4.9% during the fourth quarter. Forum Financial Management LP now owns 621 shares of the company's stock valued at $257,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 87.84% of the company's stock.

IDEXX Laboratories Price Performance

NASDAQ:IDXX traded down $2.96 during trading hours on Tuesday, hitting $528.46. The stock had a trading volume of 170,908 shares, compared to its average volume of 645,400. The company has a 50 day simple moving average of $520.81 and a two-hundred day simple moving average of $460.39. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.16 and a quick ratio of 0.81. IDEXX Laboratories, Inc. has a one year low of $356.14 and a one year high of $549.52. The firm has a market capitalization of $42.50 billion, a price-to-earnings ratio of 48.79, a P/E/G ratio of 3.89 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted 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 net margin of 22.76% and a return on equity of 57.35%. The company had revenue of $998.43 million during the quarter, compared to the consensus estimate of $998.25 million. During the same period in the previous year, the firm posted $2.71 EPS. The firm's revenue was up 3.6% compared to the same quarter last year. Research analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Activity

In related news, Director M Anne Szostak sold 1,260 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total transaction of $645,548.40. Following the transaction, the director owned 1,801 shares in the company, valued at $922,724.34. The trade was a 41.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.98% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on IDXX. Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. Jefferies Financial Group assumed coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price objective on the stock. Leerink Partners boosted their price objective on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 11th. Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Stifel Nicolaus boosted their price objective 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. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target 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.