New Century Financial Group LLC Sells 520 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

New Century Financial Group LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 55.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 422 shares of the company’s stock after selling 520 shares during the period. New Century Financial Group LLC’s holdings in IDEXX Laboratories were worth $228,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in IDXX. Franklin Resources Inc. boosted its holdings in IDEXX Laboratories by 2.1% during the fourth quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after acquiring an additional 28,475 shares during the period. Morgan Stanley increased its position in IDEXX Laboratories by 4.7% in the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock worth $465,482,000 after buying an additional 48,095 shares during the period. Capital World Investors lifted its holdings in shares of IDEXX Laboratories by 1.1% during the fourth quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock worth $567,648,000 after buying an additional 11,351 shares during the last quarter. Norges Bank bought a new stake in shares of IDEXX Laboratories in the fourth quarter valued at approximately $512,190,000. Finally, JPMorgan Chase & Co. grew its stake in shares of IDEXX Laboratories by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock worth $350,373,000 after acquiring an additional 65,760 shares during the last quarter. Institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Stock Performance

NASDAQ IDXX opened at $477.49 on Friday. The firm has a market cap of $39.44 billion, a price-to-earnings ratio of 46.22, a PEG ratio of 3.90 and a beta of 1.32. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a 50 day moving average of $500.62 and a 200-day moving average of $524.93. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. The business had revenue of $964.10 million during the quarter, compared to analyst estimates of $965.43 million. IDEXX Laboratories had a net margin of 23.26% and a return on equity of 63.66%. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In other IDEXX Laboratories news, Director Bruce L. Claflin sold 200 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the transaction, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.18% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Barclays reduced their price target on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus lowered their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. StockNews.com upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Finally, Morgan Stanley decreased 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 report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

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.