Texas Permanent School Fund Lowers Stake in IDEXX Laboratories, Inc. (IDXX)

Texas Permanent School Fund decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 60.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,714 shares of the company’s stock after selling 39,678 shares during the period. Texas Permanent School Fund’s holdings in IDEXX Laboratories were worth $3,976,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of IDXX. Norges Bank acquired a new position in IDEXX Laboratories during the fourth quarter valued at approximately $112,138,000. Wells Fargo & Company MN boosted its stake in shares of IDEXX Laboratories by 178.5% in the first quarter. Wells Fargo & Company MN now owns 384,333 shares of the company’s stock valued at $59,422,000 after buying an additional 246,325 shares during the last quarter. Janus Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 55.8% in the fourth quarter. Janus Capital Management LLC now owns 501,118 shares of the company’s stock valued at $58,766,000 after buying an additional 179,473 shares during the last quarter. Asset Management One Co. Ltd. raised its position in IDEXX Laboratories by 1,907.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 169,025 shares of the company’s stock valued at $19,831,000 after buying an additional 160,604 shares during the period. Finally, Russell Investments Group Ltd. acquired a new position in shares of IDEXX Laboratories during the fourth quarter worth about $17,361,000. 89.11% of the stock is owned by hedge funds and other institutional investors.

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

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 2.28% during trading on Monday, reaching $164.38. 611,780 shares of the company’s stock traded hands. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 60.90 and a beta of 0.53. The company’s 50-day moving average is $164.46 and its 200 day moving average is $143.85. IDEXX Laboratories, Inc. has a 52-week low of $85.98 and a 52-week high of $173.01.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Friday, April 28th. The company reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.16. The firm had revenue of $462 million for the quarter, compared to analysts’ expectations of $455.10 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities analysts forecast that IDEXX Laboratories, Inc. will post $3.05 EPS for the current year.

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Several equities analysts have commented on the stock. BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Canaccord Genuity restated a “buy” rating and set a $180.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 price target for the company in a research note on Tuesday, June 13th. Aegis assumed coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Finally, Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. IDEXX Laboratories currently has a consensus rating of “Hold” and an average price target of $165.00.

In related news, Director Rebecca M. Henderson sold 1,700 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $159.95, for a total transaction of $271,915.00. Following the completion of the sale, the director now directly owns 21,552 shares in the company, valued at $3,447,242.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Giovani Twigge sold 2,572 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $166.90, for a total value of $429,266.80. The disclosure for this sale can be found here. Insiders have sold 75,272 shares of company stock valued at $12,264,082 over the last quarter. 2.77% of the stock is owned by company insiders.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.

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