IDEXX Laboratories, Inc. $IDXX Stock: Maryland State Retirement & Pension System Decreases Stake

Maryland State Retirement & Pension System decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 44.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,787 shares of the company’s stock after selling 3,782 shares during the quarter. Maryland State Retirement & Pension System’s holdings in IDEXX Laboratories were worth $2,500,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of IDEXX Laboratories in the 2nd quarter worth $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in IDEXX Laboratories by 4.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock valued at $479,844,000 after purchasing an additional 39,700 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in IDEXX Laboratories by 52.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after purchasing an additional 288,471 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in IDEXX Laboratories by 4.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock valued at $322,145,000 after purchasing an additional 23,582 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its holdings in IDEXX Laboratories by 97.3% during the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after buying an additional 197,808 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at IDEXX Laboratories

In other news, Director Daniel M. Junius sold 1,200 shares of the stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $704.07, for a total value of $844,884.00. Following the completion of the sale, the director owned 2,361 shares in the company, valued at $1,662,309.27. This represents a 33.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sharon E. Underberg sold 8,906 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $688.59, for a total transaction of $6,132,582.54. Following the transaction, the executive vice president directly owned 7,169 shares in the company, valued at $4,936,501.71. The trade was a 55.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 41,428 shares of company stock worth $28,567,934. 0.79% of the stock is owned by insiders.

IDEXX Laboratories Stock Up 0.9%

Shares of NASDAQ:IDXX traded up $6.21 during mid-day trading on Friday, hitting $704.23. 392,446 shares of the company traded hands, compared to its average volume of 700,442. The stock has a 50-day moving average price of $562.41 and a two-hundred day moving average price of $573.52. IDEXX Laboratories, Inc. has a 12-month low of $500.61 and a 12-month high of $769.98. The stock has a market cap of $55.49 billion, a P/E ratio of 47.49 and a beta of 1.55. The company has a current ratio of 1.19, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 2nd. The company reported $3.96 EPS for the quarter, beating analysts’ consensus estimates of $3.71 by $0.25. IDEXX Laboratories had a return on equity of 71.04% and a net margin of 25.36%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. During the same period in the prior year, the firm posted $3.22 EPS. IDEXX Laboratories’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts forecast that IDEXX Laboratories, Inc. will post 15.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating on the stock in a research note on Friday, October 16th. BTIG Research dropped coverage on shares of IDEXX Laboratories in a research report on Friday, October 30th. They set a “buy” rating for the company. Barclays lowered their target price on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of IDEXX Laboratories from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Finally, KeyCorp assumed coverage on shares of IDEXX Laboratories in a research report on Monday, October 12th. They issued a “sector weight” rating on the stock. Seven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and a consensus target price of $717.27.

IDEXX Laboratories Company Profile

IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices. The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.