Advisory Services Network LLC Reduces Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Advisory Services Network LLC cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXXFree Report) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 952 shares of the company’s stock after selling 53 shares during the period. Advisory Services Network LLC’s holdings in IDEXX Laboratories were worth $528,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. HCR Wealth Advisors purchased a new stake in IDEXX Laboratories during the fourth quarter worth $201,000. ProVise Management Group LLC purchased a new stake in IDEXX Laboratories during the fourth quarter worth $211,000. Orion Portfolio Solutions LLC lifted its holdings in IDEXX Laboratories by 8.3% during the fourth quarter. Orion Portfolio Solutions LLC now owns 2,910 shares of the company’s stock valued at $1,583,000 after purchasing an additional 222 shares in the last quarter. Team Hewins LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $379,000. Finally, US Bancorp DE grew its position in shares of IDEXX Laboratories by 2.6% in the fourth quarter. US Bancorp DE now owns 19,820 shares of the company’s stock valued at $11,001,000 after purchasing an additional 502 shares during the period. 87.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now directly owns 161 shares in the company, valued at $87,068.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.11% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on IDXX. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Barclays dropped their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Finally, JPMorgan Chase & Co. lifted their target price on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $580.38.

Check Out Our Latest Report on IDEXX Laboratories

IDEXX Laboratories Stock Down 0.6 %

Shares of NASDAQ:IDXX opened at $496.95 on Friday. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The stock has a market cap of $41.04 billion, a P/E ratio of 48.11, a PEG ratio of 4.05 and a beta of 1.27. The business has a fifty day moving average of $507.17 and a two-hundred day moving average of $525.87. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXXGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. On average, research analysts expect that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current year.

About IDEXX Laboratories

(Free Report)

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.

Further Reading

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

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