Kentucky Retirement Systems Sells 84 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Kentucky Retirement Systems cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% during the second quarter, Holdings Channel.com reports. The firm owned 6,223 shares of the company’s stock after selling 84 shares during the period. Kentucky Retirement Systems’ holdings in IDEXX Laboratories were worth $3,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IDXX. Riverview Trust Co bought a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Crewe Advisors LLC bought a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $27,000. Institutional & Family Asset Management LLC bought a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $28,000. Finally, DSM Capital Partners LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at approximately $33,000. 87.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

IDXX has been the topic of a number of recent research reports. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, July 10th. Stifel Nicolaus lowered their target price on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating for the company in a research note on Monday, June 24th. BTIG Research began coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a “buy” rating and a $580.00 target price for the company. Finally, Piper Sandler lowered their target price on shares of IDEXX Laboratories from $600.00 to $520.00 and set a “neutral” rating for the company in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $582.25.

IDEXX Laboratories Trading Up 1.1 %

NASDAQ IDXX opened at $517.06 on Friday. The company has a fifty day simple moving average of $483.57 and a two-hundred day simple moving average of $500.01. The stock has a market cap of $42.70 billion, a P/E ratio of 50.05, a P/E/G ratio of 4.17 and a beta of 1.33. 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 1.37, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.44). The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. The company’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.67 EPS. On average, analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current year.

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.