BNP Paribas Arbitrage SNC Reduces Holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

BNP Paribas Arbitrage SNC reduced its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,337 shares of the company’s stock after selling 7,464 shares during the period. BNP Paribas Arbitrage SNC owned about 0.06% of IDEXX Laboratories worth $23,672,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Avalon Trust Co bought a new stake in IDEXX Laboratories during the first quarter valued at about $25,000. Ridgewood Investments LLC purchased a new position in IDEXX Laboratories during the first quarter valued at approximately $28,000. Altshuler Shaham Ltd bought a new position in shares of IDEXX Laboratories in the fourth quarter worth approximately $26,000. Pacifica Partners Inc. purchased a new stake in shares of IDEXX Laboratories in the first quarter worth $33,000. Finally, Carolinas Wealth Consulting LLC purchased a new stake in shares of IDEXX Laboratories in the first quarter worth $39,000. 86.85% of the stock is currently owned by institutional investors.

IDEXX Laboratories Stock Performance

Shares of NASDAQ:IDXX opened at $477.21 on Friday. The firm has a fifty day simple moving average of $514.46 and a two-hundred day simple moving average of $491.09. IDEXX Laboratories, Inc. has a 52 week low of $317.06 and a 52 week high of $564.73. The company has a quick ratio of 0.89, a current ratio of 1.33 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $39.61 billion, a P/E ratio of 50.66, a PEG ratio of 2.83 and a beta of 1.20.

IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, August 1st. The company reported $2.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.43 by $0.24. The firm had revenue of $943.63 million during the quarter, compared to analyst estimates of $927.84 million. IDEXX Laboratories had a net margin of 22.52% and a return on equity of 104.84%. On average, analysts expect that IDEXX Laboratories, Inc. will post 9.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of IDEXX Laboratories from $550.00 to $600.00 and gave the stock an “overweight” rating in a report on Wednesday, August 2nd. Morgan Stanley increased their target price on IDEXX Laboratories from $590.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, August 3rd. Atlantic Securities cut IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 price target on the stock. in a report on Wednesday, August 2nd. Finally, StockNews.com initiated coverage on shares of IDEXX Laboratories in a report on Thursday, August 17th. They set a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $586.00.

Insider Activity

In other IDEXX Laboratories news, EVP Michael Lane sold 16,027 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $510.00, for a total transaction of $8,173,770.00. Following the transaction, the executive vice president now directly owns 4,034 shares in the company, valued at approximately $2,057,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Michael Lane sold 16,027 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $510.00, for a total value of $8,173,770.00. Following the completion of the sale, the executive vice president now owns 4,034 shares in the company, valued at approximately $2,057,340. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jonathan Jay Mazelsky sold 13,424 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $512.01, for a total transaction of $6,873,222.24. Following the completion of the sale, the chief executive officer now directly owns 72,925 shares of the company’s stock, valued at approximately $37,338,329.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,360 shares of company stock valued at $26,743,411. Corporate insiders own 2.11% of the company’s stock.

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 worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.