Geneos Wealth Management Inc. Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Geneos Wealth Management Inc. decreased its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 79.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 214 shares of the company’s stock after selling 807 shares during the period. Geneos Wealth Management Inc.’s holdings in IDEXX Laboratories were worth $115,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Public Sector Pension Investment Board lifted its holdings in IDEXX Laboratories by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 8,901 shares of the company’s stock valued at $3,892,000 after purchasing an additional 969 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of IDEXX Laboratories by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 3,486 shares of the company’s stock worth $1,524,000 after purchasing an additional 67 shares during the period. B. Riley Wealth Advisors Inc. boosted its holdings in shares of IDEXX Laboratories by 20.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 1,879 shares of the company’s stock worth $822,000 after purchasing an additional 319 shares during the last quarter. Citigroup Inc. grew its position in shares of IDEXX Laboratories by 5.3% in the third quarter. Citigroup Inc. now owns 91,386 shares of the company’s stock valued at $39,960,000 after purchasing an additional 4,582 shares during the period. Finally, Anchor Investment Management LLC acquired a new position in IDEXX Laboratories in the fourth quarter valued at $80,000. 87.84% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on IDXX. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research note on Tuesday, April 9th. Barclays lowered their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Stifel Nicolaus cut their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Morgan Stanley cut their target price on IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 14th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $586.63.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX opened at $492.74 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. IDEXX Laboratories, Inc. has a 1-year low of $372.50 and a 1-year high of $583.39. The company has a market capitalization of $40.70 billion, a price-to-earnings ratio of 47.70, a PEG ratio of 3.98 and a beta of 1.32. The business has a 50-day moving average of $500.41 and a 200-day moving average of $522.33.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Wednesday, May 1st. The company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.13. The firm had revenue of $964.10 million during the quarter, compared to analysts’ expectations of $965.43 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 11.03 EPS for the current fiscal year.

Insider Transactions at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $540.80, for a total value of $108,160.00. Following the sale, 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 is available at this hyperlink. Corporate insiders own 2.11% of the company’s stock.

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.