Sunbelt Securities Inc. Decreases Stock Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sunbelt Securities Inc. reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 41.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75 shares of the company’s stock after selling 53 shares during the quarter. Sunbelt Securities Inc.’s holdings in IDEXX Laboratories were worth $40,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IDXX. Valley National Advisers Inc. increased its stake in shares of IDEXX Laboratories by 84.6% during the 4th quarter. Valley National Advisers Inc. now owns 48 shares of the company’s stock worth $26,000 after purchasing an additional 22 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of IDEXX Laboratories during the first quarter valued at $26,000. Geo Capital Gestora de Recursos Ltd purchased a new stake in IDEXX Laboratories during the 3rd quarter worth about $28,000. DSM Capital Partners LLC purchased a new position in IDEXX Laboratories in the 4th quarter valued at about $33,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of IDEXX Laboratories by 226.3% during the 4th quarter. Venturi Wealth Management LLC now owns 62 shares of the company’s stock worth $34,000 after purchasing an additional 43 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analyst Weigh In

IDXX has been the topic of several analyst reports. Barclays decreased their price objective on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, May 2nd. StockNews.com upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, June 14th. William Blair reissued an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Morgan Stanley cut their price target 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. Finally, Stifel Nicolaus dropped their price objective on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a report on Monday, June 24th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $586.63.

IDEXX Laboratories Trading Down 1.4 %

Shares of IDXX opened at $487.20 on Monday. IDEXX Laboratories, Inc. has a 12 month low of $372.50 and a 12 month high of $583.39. The stock’s 50-day moving average is $501.58 and its two-hundred day moving average is $526.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.57 and a quick ratio of 1.16. The stock has a market cap of $40.24 billion, a PE ratio of 47.16, a P/E/G ratio of 3.97 and a beta of 1.33.

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%. Equities analysts forecast that IDEXX Laboratories, Inc. will post 11.03 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bruce L. Claflin sold 200 shares of the stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $540.80, for a total value of $108,160.00. Following the completion of the transaction, the director now owns 161 shares of the company’s stock, valued at $87,068.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.11% of the company’s stock.

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.