IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 68.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 400 shares of the company’s stock after selling 871 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in IDEXX Laboratories were worth $215,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its holdings in IDEXX Laboratories by 2.1% in the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after buying an additional 28,475 shares in the last quarter. Capital World Investors grew its holdings in IDEXX Laboratories by 1.1% in the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after buying an additional 11,351 shares in the last quarter. Norges Bank purchased a new position in shares of IDEXX Laboratories during the 4th quarter worth $512,190,000. International Assets Investment Management LLC grew its holdings in shares of IDEXX Laboratories by 51,631.3% during the 4th quarter. International Assets Investment Management LLC now owns 547,834 shares of the company’s stock worth $304,075,000 after purchasing an additional 546,775 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of IDEXX Laboratories by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 476,799 shares of the company’s stock worth $264,647,000 after purchasing an additional 14,264 shares during the period. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IDXX shares. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Morgan Stanley lowered their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a report on Tuesday, May 14th. Barclays lowered their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. StockNews.com cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Finally, Stifel Nicolaus lowered their target price on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $586.63.

Insider Buying and Selling at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.11% of the company’s stock.

IDEXX Laboratories Stock Performance

IDXX traded up $5.47 during trading on Tuesday, hitting $488.17. 239,311 shares of the stock were exchanged, compared to its average volume of 464,576. The firm has a market capitalization of $40.32 billion, a P/E ratio of 47.04, a PEG ratio of 4.02 and a beta of 1.32. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The stock has a fifty day moving average price of $500.53 and a two-hundred day moving average price of $521.32. 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:IDXX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company had revenue of $964.10 million for the quarter, compared to analyst estimates of $965.43 million. As a group, sell-side analysts predict that IDEXX Laboratories, Inc. will post 11.03 earnings per share 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.