Kentucky Retirement Systems Sells 489 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kentucky Retirement Systems reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,734 shares of the company’s stock after selling 489 shares during the quarter. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $2,897,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in IDXX. Crewe Advisors LLC purchased a new position in IDEXX Laboratories in the 1st quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in IDEXX Laboratories during the 2nd quarter valued at about $27,000. Institutional & Family Asset Management LLC bought a new stake in IDEXX Laboratories in the 2nd quarter worth about $28,000. E Fund Management Hong Kong Co. Ltd. increased its position in IDEXX Laboratories by 5,700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 58 shares of the company’s stock valued at $29,000 after acquiring an additional 57 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 750.0% in the 3rd quarter. Mowery & Schoenfeld Wealth Management LLC now owns 68 shares of the company’s stock worth $34,000 after purchasing an additional 60 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $420.91 on Monday. The firm has a market cap of $34.47 billion, a P/E ratio of 40.59, a P/E/G ratio of 3.67 and a beta of 1.36. IDEXX Laboratories, Inc. has a 52 week low of $404.74 and a 52 week high of $583.39. The business’s 50 day moving average price is $468.32 and its 200 day moving average price is $482.83. The company has a quick ratio of 1.03, a current ratio of 1.42 and a debt-to-equity ratio of 0.32.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Thursday, October 31st. The company reported $2.80 EPS for the quarter, beating the consensus estimate of $2.69 by $0.11. The company had revenue of $975.50 million for the quarter, compared to analyst estimates of $980.32 million. IDEXX Laboratories had a net margin of 22.53% and a return on equity of 55.42%. The firm’s revenue was up 6.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.53 earnings per share. On average, sell-side analysts expect that IDEXX Laboratories, Inc. will post 10.43 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Barclays decreased their price target on IDEXX Laboratories from $570.00 to $481.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on IDEXX Laboratories from $630.00 to $575.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. BTIG Research initiated coverage on shares of IDEXX Laboratories in a research report on Thursday, July 25th. They issued a “buy” rating and a $580.00 price objective for the company. Stifel Nicolaus cut their price objective on shares of IDEXX Laboratories from $510.00 to $500.00 and set a “hold” rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler reiterated a “neutral” rating and set a $435.00 price objective (down previously from $520.00) on shares of IDEXX Laboratories in a research note on Monday, November 4th. 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 an average price target of $552.38.

IDEXX Laboratories 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.