RFG Advisory LLC Reduces Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

RFG Advisory LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,186 shares of the company’s stock after selling 46 shares during the quarter. RFG Advisory LLC’s holdings in IDEXX Laboratories were worth $578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of IDXX. Allspring Global Investments Holdings LLC grew its position in shares of IDEXX Laboratories by 11.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 36,885 shares of the company’s stock worth $20,473,000 after acquiring an additional 3,743 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in IDEXX Laboratories by 17.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,979 shares of the company’s stock valued at $1,098,000 after purchasing an additional 292 shares during the last quarter. Cerity Partners LLC increased its stake in shares of IDEXX Laboratories by 27.9% during the 4th quarter. Cerity Partners LLC now owns 6,460 shares of the company’s stock valued at $3,585,000 after acquiring an additional 1,409 shares during the last quarter. Perigon Wealth Management LLC increased its stake in shares of IDEXX Laboratories by 180.7% during the 4th quarter. Perigon Wealth Management LLC now owns 1,384 shares of the company’s stock valued at $768,000 after acquiring an additional 891 shares during the last quarter. Finally, NewEdge Wealth LLC increased its stake in shares of IDEXX Laboratories by 3.1% during the 4th quarter. NewEdge Wealth LLC now owns 659 shares of the company’s stock valued at $366,000 after acquiring an additional 20 shares during the last quarter. Institutional investors and hedge funds own 87.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on IDXX shares. StockNews.com downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, July 10th. Stifel Nicolaus dropped their price target on IDEXX Laboratories from $520.00 to $510.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. BTIG Research started coverage on IDEXX Laboratories in a research report on Thursday, July 25th. They set a “buy” rating and a $580.00 price target on the stock. Morgan Stanley dropped 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. Finally, Barclays dropped their target price on IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, IDEXX Laboratories has a consensus rating of “Moderate Buy” and a consensus price target of $582.88.

IDEXX Laboratories Stock Performance

NASDAQ:IDXX traded down $2.91 on Monday, hitting $479.93. The company’s stock had a trading volume of 325,871 shares, compared to its average volume of 490,578. The firm has a market capitalization of $39.64 billion, a P/E ratio of 46.74, a price-to-earnings-growth ratio of 3.91 and a beta of 1.32. The company has a current ratio of 1.57, a quick ratio of 1.16 and a debt-to-equity ratio of 0.40. IDEXX Laboratories, Inc. has a one year low of $372.50 and a one year high of $583.39. The stock has a fifty day moving average of $485.85 and a two-hundred day moving average of $512.89.

IDEXX Laboratories (NASDAQ:IDXX) last issued 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 for the quarter, compared to analyst estimates of $1.01 billion. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The company’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.67 EPS. Research analysts predict that IDEXX Laboratories, Inc. will post 11 earnings per share for the current year.

Insider Activity at IDEXX Laboratories

In other news, Director Bruce L. Claflin sold 200 shares of IDEXX Laboratories 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 directly owns 161 shares of the company’s stock, valued at approximately $87,068.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.11% of the stock is currently owned by company 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.