Y Intercept Hong Kong Ltd Lowers Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Y Intercept Hong Kong Ltd trimmed its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 82.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,609 shares of the company's stock after selling 7,523 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in IDEXX Laboratories were worth $676,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Golden State Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 3,766.7% during the 1st quarter. Golden State Wealth Management LLC now owns 116 shares of the company's stock worth $49,000 after acquiring an additional 113 shares in the last quarter. Sagespring Wealth Partners LLC purchased a new stake in shares of IDEXX Laboratories during the 1st quarter worth about $229,000. Banque Transatlantique SA purchased a new stake in shares of IDEXX Laboratories during the 4th quarter worth about $2,681,000. Wealth Enhancement Advisory Services LLC boosted its stake in shares of IDEXX Laboratories by 13.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,553 shares of the company's stock worth $10,731,000 after acquiring an additional 2,931 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of IDEXX Laboratories by 42.7% during the 1st quarter. GAMMA Investing LLC now owns 2,187 shares of the company's stock worth $918,000 after acquiring an additional 654 shares in the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Leerink Partners increased their target price on shares of IDEXX Laboratories from $580.00 to $600.00 and gave the stock an "outperform" rating in a research note on Thursday, July 17th. Jefferies Financial Group began coverage on shares of IDEXX Laboratories in a research note on Tuesday, July 1st. They issued a "buy" rating and a $625.00 price target on the stock. Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the company a "hold" rating in a research note on Wednesday, July 2nd. Morgan Stanley raised their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Finally, Wall Street Zen raised shares of IDEXX Laboratories from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $557.88.

IDEXX Laboratories Stock Up 2.8%

IDXX stock opened at $565.19 on Friday. The company has a market cap of $45.45 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 4.11 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 12 month low of $356.14 and a 12 month high of $568.47. The firm has a 50-day moving average of $526.59 and a two-hundred day moving average of $467.17.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating analysts' consensus estimates of $2.93 by $0.03. The company 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%. IDEXX Laboratories's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.71 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Insider Buying and Selling

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the 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 completion of 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.98% of the company's stock.

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.

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