IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Grimes & Company Inc.

Grimes & Company Inc. cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,641 shares of the company’s stock after selling 58 shares during the period. Grimes & Company Inc.’s holdings in IDEXX Laboratories were worth $2,506,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Patron Partners LLC grew its holdings in shares of IDEXX Laboratories by 2.7% during the fourth quarter. Patron Partners LLC now owns 765 shares of the company’s stock valued at $425,000 after buying an additional 20 shares during the last quarter. NewEdge Wealth LLC boosted its holdings in IDEXX Laboratories by 3.1% in the fourth quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after purchasing an additional 20 shares during the last quarter. Manchester Capital Management LLC boosted its holdings in IDEXX Laboratories by 11.9% in the fourth quarter. Manchester Capital Management LLC now owns 188 shares of the company’s stock valued at $104,000 after purchasing an additional 20 shares during the last quarter. Phoenix Holdings Ltd. boosted its holdings in IDEXX Laboratories by 2.8% in the third quarter. Phoenix Holdings Ltd. now owns 769 shares of the company’s stock valued at $338,000 after purchasing an additional 21 shares during the last quarter. Finally, BluePath Capital Management LLC boosted its holdings in IDEXX Laboratories by 1.8% in the fourth quarter. BluePath Capital Management LLC now owns 1,197 shares of the company’s stock valued at $663,000 after purchasing an additional 21 shares during the last quarter. 87.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on IDXX shares. Barclays lowered their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. Morgan Stanley lowered their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. William Blair reaffirmed an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. Finally, Stifel Nicolaus lowered their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

IDEXX Laboratories Stock Down 1.4 %

IDXX opened at $487.20 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $372.50 and a twelve month high of $583.39. The company has a quick ratio of 1.16, a current ratio of 1.57 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average price of $501.58 and a 200 day moving average price of $526.81. The company has a market cap of $40.24 billion, a PE ratio of 47.16, a price-to-earnings-growth ratio of 3.97 and a beta of 1.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. The firm had revenue of $964.10 million during the quarter, compared to the consensus estimate of $965.43 million. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Bruce L. Claflin sold 200 shares of the company’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 completion of the transaction, the director now owns 161 shares in the company, valued at approximately $87,068.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.11% of the company’s stock.

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.