Kingswood Wealth Advisors LLC Trims Stock Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kingswood Wealth Advisors LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,550 shares of the company’s stock after selling 94 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $1,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of IDEXX Laboratories by 15.5% during the first quarter. Nordea Investment Management AB now owns 13,719 shares of the company’s stock worth $7,447,000 after purchasing an additional 1,839 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in IDEXX Laboratories in the fourth quarter worth about $3,183,000. DekaBank Deutsche Girozentrale grew its stake in shares of IDEXX Laboratories by 9.4% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 42,045 shares of the company’s stock worth $23,307,000 after acquiring an additional 3,627 shares during the last quarter. First Hawaiian Bank acquired a new position in shares of IDEXX Laboratories during the first quarter valued at about $982,000. Finally, Meyer Handelman Co. purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $2,155,000. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Down 0.5 %

NASDAQ:IDXX traded down $2.30 during trading hours on Wednesday, hitting $467.07. The company’s stock had a trading volume of 643,728 shares, compared to its average volume of 492,378. The stock has a fifty day moving average of $487.07 and a 200-day moving average of $513.95. The stock has a market capitalization of $38.57 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.44). IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company had revenue of $1 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the prior year, the business earned $2.67 earnings per share. IDEXX Laboratories’s revenue was up 6.4% compared to the same quarter last year. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 11 earnings per share for the current year.

Analyst Upgrades and Downgrades

IDXX has been the subject of several research reports. Morgan Stanley lowered their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Barclays cut their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. BTIG Research began coverage on IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. Finally, StockNews.com lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, July 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories presently has an average rating of “Moderate Buy” and an average target price of $582.88.

Insider Buying and Selling

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

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.