Florida Financial Advisors LLC Trims Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Florida Financial Advisors LLC cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 735 shares of the company’s stock after selling 115 shares during the period. Florida Financial Advisors LLC’s holdings in IDEXX Laboratories were worth $309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $412,258,000. GAMMA Investing LLC raised its holdings in shares of IDEXX Laboratories by 59,810.7% in the first quarter. GAMMA Investing LLC now owns 918,431 shares of the company’s stock valued at $3,856,950,000 after buying an additional 916,898 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of IDEXX Laboratories by 58.3% in the first quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock valued at $472,865,000 after buying an additional 414,802 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of IDEXX Laboratories in the fourth quarter valued at about $156,412,000. Finally, William Blair Investment Management LLC raised its holdings in shares of IDEXX Laboratories by 701.6% in the fourth quarter. William Blair Investment Management LLC now owns 422,133 shares of the company’s stock valued at $174,527,000 after buying an additional 369,471 shares during the last quarter. 87.84% of the stock is owned by hedge funds and other institutional investors.

IDEXX Laboratories Trading Down 0.4%

Shares of IDXX opened at $531.42 on Tuesday. The company has a current ratio of 1.16, a quick ratio of 0.81 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $520.81 and its two-hundred day moving average is $460.39. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $549.52. The firm has a market capitalization of $42.74 billion, a P/E ratio of 49.11, a PEG ratio of 3.89 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.96 EPS for the quarter, beating the consensus estimate of $2.93 by $0.03. The business had revenue of $998.43 million for the quarter, compared to analyst estimates of $998.25 million. IDEXX Laboratories had a net margin of 22.76% and a return on equity of 57.35%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the business earned $2.71 earnings per share. On average, research analysts predict that IDEXX Laboratories, Inc. will post 11.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on IDXX shares. Jefferies Financial Group started coverage on shares of IDEXX Laboratories in a report on Tuesday, July 1st. They issued a “buy” rating and a $625.00 target price for the company. Morgan Stanley boosted their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Wall Street Zen raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Saturday. Leerink Partners increased their price target on shares of IDEXX Laboratories from $515.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, June 11th. Finally, Stifel Nicolaus increased their price target on shares of IDEXX Laboratories from $510.00 to $540.00 and gave the stock a “hold” rating in a report on Wednesday, July 2nd. Three equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $558.11.

Insider Activity at IDEXX Laboratories

In other news, Director M Anne Szostak sold 1,260 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $512.34, for a total value of $645,548.40. Following the sale, the director directly owned 1,801 shares in the company, valued at $922,724.34. This represents a 41.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

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.