New England Research & Management Inc. Reduces Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

New England Research & Management Inc. lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,355 shares of the company’s stock after selling 425 shares during the quarter. New England Research & Management Inc.’s holdings in IDEXX Laboratories were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in IDXX. Valley National Advisers Inc. increased its holdings in shares of IDEXX Laboratories by 84.6% in the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares in the last quarter. Riverview Trust Co bought a new stake in shares of IDEXX Laboratories in the 1st quarter worth $26,000. Geo Capital Gestora de Recursos Ltd bought a new stake in shares of IDEXX Laboratories in the 3rd quarter worth $28,000. Covestor Ltd increased its holdings in shares of IDEXX Laboratories by 71.8% in the 3rd quarter. Covestor Ltd now owns 67 shares of the company’s stock worth $29,000 after purchasing an additional 28 shares in the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Transactions at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the transaction, the director now owns 161 shares of the company’s stock, valued at $87,068.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on IDXX shares. StockNews.com raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Barclays cut their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Morgan Stanley reduced their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. Stifel Nicolaus reduced their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX opened at $487.20 on Friday. The stock has a 50-day simple moving average of $501.58 and a two-hundred day simple moving average of $526.94. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The firm has a market capitalization of $40.24 billion, a PE ratio of 47.16, a P/E/G ratio of 4.03 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.13. The business had revenue of $964.10 million during the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. Analysts forecast that IDEXX Laboratories, Inc. will post 11.03 EPS for the current year.

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.