Avanza Fonder AB Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Avanza Fonder AB cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,496 shares of the company’s stock after selling 1,006 shares during the period. Avanza Fonder AB’s holdings in IDEXX Laboratories were worth $2,343,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Hurley Capital LLC acquired a new position in shares of IDEXX Laboratories in the 4th quarter valued at $29,000. Rialto Wealth Management LLC purchased a new position in IDEXX Laboratories during the 4th quarter worth $30,000. Colonial Trust Co SC increased its stake in IDEXX Laboratories by 84.8% in the fourth quarter. Colonial Trust Co SC now owns 85 shares of the company’s stock valued at $35,000 after purchasing an additional 39 shares during the period. Kestra Investment Management LLC purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $38,000. Finally, Itau Unibanco Holding S.A. boosted its stake 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 worth $40,000 after buying an additional 81 shares during the period. Institutional investors and hedge funds own 87.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Leerink Partners boosted their price target on IDEXX Laboratories from $515.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday. Morgan Stanley lifted their target price on IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Wall Street Zen cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 30th. Finally, Stifel Nicolaus increased their price target on IDEXX Laboratories from $460.00 to $510.00 and gave the stock a “hold” rating in a report on Monday, May 19th. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $546.00.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director M Anne Szostak sold 1,260 shares of the firm’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 completion of the transaction, the director now directly owns 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock opened at $524.18 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.95 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $466.92 and a 200-day simple moving average of $442.89. The company has a market cap of $42.16 billion, a price-to-earnings ratio of 49.13, a price-to-earnings-growth ratio of 3.41 and a beta of 1.55. IDEXX Laboratories, Inc. has a 12-month low of $356.14 and a 12-month high of $530.73.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.93 by $0.03. The firm had revenue of $998.43 million during the quarter, compared to analysts’ expectations of $998.25 million. IDEXX Laboratories had a return on equity of 55.82% and a net margin of 22.78%. IDEXX Laboratories’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.71 earnings per share. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current year.

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.