Kentucky Retirement Systems Sells 84 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kentucky Retirement Systems reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,223 shares of the company’s stock after selling 84 shares during the period. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $3,032,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of IDEXX Laboratories by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 8,476,054 shares of the company’s stock worth $4,576,476,000 after buying an additional 98,387 shares during the last quarter. Capital World Investors increased its holdings in shares of IDEXX Laboratories by 1.1% in the 4th 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. American Century Companies Inc. increased its holdings in shares of IDEXX Laboratories by 46.0% in the 2nd quarter. American Century Companies Inc. now owns 562,764 shares of the company’s stock worth $274,179,000 after buying an additional 177,226 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of IDEXX Laboratories by 13.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 512,788 shares of the company’s stock worth $249,855,000 after buying an additional 59,519 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of IDEXX Laboratories by 12.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 390,565 shares of the company’s stock worth $190,283,000 after buying an additional 43,473 shares during the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $517.06 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.37 and a quick ratio of 1.03. The company has a market capitalization of $42.70 billion, a P/E ratio of 50.05, a P/E/G ratio of 4.17 and a beta of 1.33. The company’s 50-day simple moving average is $483.57 and its two-hundred day simple moving average is $500.01. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, August 6th. The company reported $2.44 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories’s revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.67 earnings per share. As a group, equities analysts anticipate that IDEXX Laboratories, Inc. will post 10.45 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IDXX shares. BTIG Research started coverage on shares of IDEXX Laboratories in a report on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price on the stock. Stifel Nicolaus reduced their target price 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. StockNews.com lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Finally, Piper Sandler reduced their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 14th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $582.25.

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.