WD Rutherford LLC Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

WD Rutherford LLC lessened its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,118 shares of the company’s stock after selling 35 shares during the quarter. IDEXX Laboratories makes up 1.7% of WD Rutherford LLC’s portfolio, making the stock its 25th largest holding. WD Rutherford LLC’s holdings in IDEXX Laboratories were worth $3,303,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Franklin Resources Inc. raised its position in shares of IDEXX Laboratories by 2.1% during the 4th quarter. Franklin Resources Inc. now owns 1,405,824 shares of the company’s stock valued at $780,303,000 after purchasing an additional 28,475 shares during the period. Morgan Stanley raised its position in shares of IDEXX Laboratories by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,064,514 shares of the company’s stock valued at $465,482,000 after purchasing an additional 48,095 shares during the period. Capital World Investors raised its position in shares of IDEXX Laboratories by 1.1% during the 4th quarter. Capital World Investors now owns 1,022,678 shares of the company’s stock valued at $567,648,000 after purchasing an additional 11,351 shares during the period. Norges Bank bought a new stake in shares of IDEXX Laboratories during the 4th quarter valued at $512,190,000. Finally, JPMorgan Chase & Co. raised its position in shares of IDEXX Laboratories by 8.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 801,274 shares of the company’s stock valued at $350,373,000 after purchasing an additional 65,760 shares during the period. Hedge funds and other institutional investors own 87.84% of the company’s stock.

IDEXX Laboratories Price Performance

Shares of NASDAQ IDXX traded down $6.76 during mid-day trading on Friday, hitting $487.20. 863,807 shares of the company’s stock traded hands, compared to its average volume of 546,518. The company’s 50-day moving average is $501.58 and its two-hundred day moving average is $526.94. 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 company has a market capitalization of $40.24 billion, a P/E ratio of 47.16, a PEG ratio of 4.03 and a beta of 1.33. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on IDXX shares. Barclays decreased their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research 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 reiterated an “outperform” rating on shares of IDEXX Laboratories in a report on Tuesday, April 9th. Morgan Stanley reduced their price target on shares of IDEXX Laboratories from $620.00 to $596.00 and set an “overweight” rating on the stock in a report on Tuesday, May 14th. Finally, Stifel Nicolaus reduced their price target on shares of IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $586.63.

Insider Activity at IDEXX Laboratories

In related news, Director Bruce L. Claflin sold 200 shares of the company’s stock in a transaction dated 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 approximately $87,068.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.11% of the stock is currently owned by insiders.

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.