IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,219 shares of the company’s stock after selling 113 shares during the quarter. Retirement Systems of Alabama’s holdings in IDEXX Laboratories were worth $8,876,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Riverview Trust Co purchased a new stake in IDEXX Laboratories during the 1st quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in shares of IDEXX Laboratories during the 1st quarter worth approximately $26,000. Institutional & Family Asset Management LLC purchased a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $28,000. DSM Capital Partners LLC acquired a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $33,000. Finally, Private Wealth Management Group LLC purchased a new position in IDEXX Laboratories during the fourth quarter worth approximately $34,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IDXX has been the subject of a number of recent research reports. Barclays cut their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a research note on Thursday, May 2nd. Morgan Stanley reduced 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 note on Tuesday, May 14th. BTIG Research assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 price target for the company. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus lowered 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $582.25.

IDEXX Laboratories Price Performance

IDXX opened at $488.13 on Friday. The firm has a market cap of $40.31 billion, a price-to-earnings ratio of 47.25, a PEG ratio of 3.91 and a beta of 1.32. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average price is $483.31 and its 200 day moving average price is $509.85. IDEXX Laboratories, Inc. has a 12-month low of $372.50 and a 12-month high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data 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 net margin of 23.26% and a return on equity of 63.66%. The business had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the business posted $2.67 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 11 earnings per share for the current year.

IDEXX Laboratories Company 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.