Riverbridge Partners LLC Sells 4,250 Shares of IDEXX Laboratories, Inc. $IDXX

Riverbridge Partners LLC cut its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,190 shares of the company’s stock after selling 4,250 shares during the quarter. IDEXX Laboratories accounts for approximately 1.1% of Riverbridge Partners LLC’s holdings, making the stock its 28th largest position. Riverbridge Partners LLC owned approximately 0.09% of IDEXX Laboratories worth $36,131,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new position in shares of IDEXX Laboratories in the second quarter worth $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of IDEXX Laboratories by 4.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock valued at $479,844,000 after purchasing an additional 39,700 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of IDEXX Laboratories by 52.4% during the first quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after purchasing an additional 288,471 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of IDEXX Laboratories by 4.3% during the first quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock valued at $322,145,000 after buying an additional 23,582 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its position in shares of IDEXX Laboratories by 97.3% during the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock valued at $211,146,000 after buying an additional 197,808 shares during the last quarter. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Jefferies Financial Group decreased their target price on IDEXX Laboratories from $795.00 to $705.00 and set a “buy” rating for the company in a research report on Tuesday, October 20th. BTIG Research dropped coverage on shares of IDEXX Laboratories in a research note on Friday, October 30th. They set a “buy” rating on the stock. Citigroup raised their price target on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the company a “neutral” rating in a report on Wednesday, August 5th. JPMorgan Chase & Co. reduced their price target on shares of IDEXX Laboratories from $775.00 to $750.00 and set an “overweight” rating for the company in a research note on Friday, October 16th. Finally, Barclays reduced their price target on shares of IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating for the company in a research note on Tuesday, August 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $717.27.

IDEXX Laboratories Trading Down 1.4%

IDEXX Laboratories stock opened at $696.64 on Wednesday. IDEXX Laboratories, Inc. has a 52-week low of $500.61 and a 52-week high of $769.98. The company has a market cap of $54.89 billion, a P/E ratio of 47.75 and a beta of 1.55. The company has a quick ratio of 0.88, a current ratio of 1.19 and a debt-to-equity ratio of 0.16. The business has a 50-day simple moving average of $552.58 and a two-hundred day simple moving average of $573.43.

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

Insider Activity at IDEXX Laboratories

In other IDEXX Laboratories news, insider Jonathan Mazelsky sold 25,140 shares of the company’s stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $703.19, for a total transaction of $17,678,196.60. Following the completion of the sale, the insider directly owned 83,803 shares of the company’s stock, valued at approximately $58,929,431.57. This represents a 23.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lawrence D. Kingsley sold 2,203 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $532.08, for a total transaction of $1,172,172.24. Following the sale, the director directly owned 9,568 shares of the company’s stock, valued at approximately $5,090,941.44. This represents a 18.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,428 shares of company stock valued at $28,567,934 in the last three months. Corporate insiders own 0.79% of the company’s stock.

About IDEXX Laboratories

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.