Wealth Enhancement Advisory Services LLC Lowers Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Wealth Enhancement Advisory Services LLC trimmed its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 27.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 5,203 shares of the company’s stock after selling 1,923 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in IDEXX Laboratories were worth $2,809,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Valley National Advisers Inc. boosted its position in shares of IDEXX Laboratories by 84.6% during the fourth quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares in the last quarter. Riverview Trust Co purchased a new position in IDEXX Laboratories during the first quarter valued at $26,000. Geo Capital Gestora de Recursos Ltd purchased a new position in IDEXX Laboratories during the third quarter valued at $28,000. DSM Capital Partners LLC bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC grew its position in shares of IDEXX Laboratories by 226.3% in the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after buying an additional 43 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. StockNews.com raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Friday, June 14th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Morgan Stanley reduced their price objective on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating for the company in a research report on Tuesday, May 14th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Finally, Barclays cut their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

IDEXX Laboratories Stock Performance

Shares of IDXX opened at $477.49 on Thursday. The company has a market cap of $39.43 billion, a price-to-earnings ratio of 46.22, a P/E/G ratio of 3.97 and a beta of 1.32. The business’s fifty day simple moving average is $501.19 and its two-hundred day simple moving average is $525.60. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. 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 released its quarterly earnings data on Wednesday, May 1st. The company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.68 by $0.13. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company had revenue of $964.10 million for the quarter, compared to analysts’ expectations of $965.43 million. Research analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Bruce L. Claflin sold 200 shares of the business’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 transaction of $108,160.00. Following the completion of the transaction, the director now directly owns 161 shares of the company’s stock, valued at $87,068.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.18% of the company’s stock.

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.