Park Avenue Securities LLC Decreases Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Park Avenue Securities LLC trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,650 shares of the company’s stock after selling 245 shares during the quarter. Park Avenue Securities LLC’s holdings in IDEXX Laboratories were worth $1,971,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in IDXX. Valley National Advisers Inc. grew its holdings in IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. DSM Capital Partners LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at about $33,000. Private Wealth Management Group LLC bought a new position in IDEXX Laboratories during the 4th quarter valued at about $34,000. Venturi Wealth Management LLC grew its holdings in IDEXX Laboratories by 226.3% during the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock valued at $34,000 after purchasing an additional 43 shares during the last quarter. Finally, Geo Capital Gestora de Recursos Ltd bought a new position in IDEXX Laboratories during the 3rd quarter valued at about $28,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Bruce L. Claflin sold 200 shares of the 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 transaction, the director now directly owns 161 shares in the company, valued at $87,068.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.11% of the company’s stock.

IDEXX Laboratories Price Performance

NASDAQ IDXX opened at $495.73 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. The firm’s 50 day moving average price is $500.80 and its 200-day moving average price is $528.24. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $583.39. The company has a market cap of $40.94 billion, a PE ratio of 47.99, a P/E/G ratio of 4.05 and a beta of 1.33.

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Morgan Stanley dropped their target price on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 14th. Barclays dropped their target price on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, May 2nd. Finally, StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $580.38.

About IDEXX Laboratories

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.