IDEXX Laboratories, Inc. $IDXX Stock Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,190 shares of the company’s stock after selling 4,250 shares during the period. IDEXX Laboratories comprises 1.1% of Riverbridge Partners LLC’s portfolio, making the stock its 28th largest holding. Riverbridge Partners LLC’s holdings in IDEXX Laboratories were worth $36,131,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $628,223,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of IDEXX Laboratories by 52.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock worth $471,335,000 after buying an additional 288,471 shares during the period. International Assets Investment Management LLC lifted its stake in shares of IDEXX Laboratories by 30,484.1% during the 3rd quarter. International Assets Investment Management LLC now owns 234,274 shares of the company’s stock worth $122,336,000 after acquiring an additional 233,508 shares during the last quarter. Alyeska Investment Group L.P. lifted its stake in shares of IDEXX Laboratories by 97.3% during the 2nd quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after acquiring an additional 197,808 shares during the last quarter. Finally, American Capital Management Inc. bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $85,341,000. 87.84% of the stock is currently owned by institutional investors.

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, Director Lawrence D. Kingsley sold 2,203 shares of the firm’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the transaction, the director directly owned 9,568 shares in the company, valued at $5,090,941.44. This trade represents a 18.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Lane sold 3,979 shares of IDEXX Laboratories stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $688.64, for a total value of $2,740,098.56. Following the sale, the executive vice president directly owned 4,076 shares of the company’s stock, valued at approximately $2,806,896.64. This trade represents a 49.40% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,428 shares of company stock worth $28,567,934 over the last three months. Corporate insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the subject of a number of recent analyst reports. BTIG Research dropped coverage on IDEXX Laboratories in a report on Friday, October 30th. They set a “buy” rating for the company. Barclays reduced their target price on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. The Goldman Sachs Group assumed coverage on IDEXX Laboratories in a research report on Friday, October 16th. They set a “buy” rating and a $740.00 target price for the company. Citigroup lifted their target price on IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 5th. Finally, Morgan Stanley boosted their target price on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the company an “overweight” rating in a research note on Tuesday, November 3rd. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $717.27.

IDEXX Laboratories Price Performance

Shares of IDXX stock opened at $696.64 on Wednesday. The company has a market capitalization of $54.89 billion, a P/E ratio of 47.75 and a beta of 1.55. The company’s 50-day simple moving average is $552.58 and its two-hundred day simple moving average is $573.43. IDEXX Laboratories, Inc. has a one year low of $500.61 and a one year high of $769.98. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.88.

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

IDEXX Laboratories 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.