China Universal Asset Management Co. Ltd. Reduces Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

China Universal Asset Management Co. Ltd. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXXGet Rating) by 69.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,929 shares of the company’s stock after selling 4,346 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $1,055,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of IDEXX Laboratories by 3.4% during the fourth quarter. BlackRock Inc. now owns 8,990,586 shares of the company’s stock worth $5,919,940,000 after purchasing an additional 296,552 shares during the last quarter. State Street Corp grew its holdings in shares of IDEXX Laboratories by 2.6% during the fourth quarter. State Street Corp now owns 3,743,599 shares of the company’s stock worth $2,465,010,000 after purchasing an additional 94,327 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of IDEXX Laboratories by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,799,521 shares of the company’s stock worth $1,182,485,000 after purchasing an additional 31,403 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of IDEXX Laboratories by 18.9% during the fourth quarter. Alliancebernstein L.P. now owns 1,596,308 shares of the company’s stock worth $1,051,105,000 after purchasing an additional 254,033 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in shares of IDEXX Laboratories by 8.5% during the fourth quarter. Brown Advisory Inc. now owns 1,079,627 shares of the company’s stock worth $710,891,000 after purchasing an additional 84,251 shares during the last quarter. 84.92% of the stock is currently owned by institutional investors.

Several equities research analysts have recently weighed in on IDXX shares. Bank of America downgraded shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $550.00 to $470.00 in a research note on Thursday, May 5th. Stifel Nicolaus reduced their price objective on shares of IDEXX Laboratories from $575.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, June 24th. The Goldman Sachs Group reduced their price objective on shares of IDEXX Laboratories from $615.00 to $530.00 and set a “neutral” rating for the company in a research report on Thursday, May 19th. Finally, StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $628.86.

IDXX opened at $366.87 on Wednesday. The company has a market capitalization of $30.82 billion, a P/E ratio of 43.01, a PEG ratio of 2.29 and a beta of 1.12. The company has a 50-day moving average of $368.01 and a 200-day moving average of $476.95. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.81 and a current ratio of 1.12. IDEXX Laboratories, Inc. has a 1-year low of $318.50 and a 1-year high of $706.95.

IDEXX Laboratories (NASDAQ:IDXXGet Rating) last announced its quarterly earnings data on Wednesday, May 4th. The company reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.02. The firm had revenue of $836.55 million during the quarter, compared to analyst estimates of $836.47 million. IDEXX Laboratories had a return on equity of 103.70% and a net margin of 22.43%. IDEXX Laboratories’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.35 earnings per share. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 8.23 earnings per share for the current fiscal year.

IDEXX Laboratories Company Profile (Get Rating)

IDEXX Laboratories, Inc develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through CAG; Water Quality Products; LPD; and Other segments. It provides point-of-care veterinary diagnostic products, including instruments, consumables, and rapid assay test kits; veterinary reference laboratory diagnostic and consulting services; practice management and diagnostic imaging systems and services for veterinarians; and health monitoring, biological materials testing, and laboratory animal diagnostic instruments and services for biomedical research community.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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