Red Spruce Capital LLC Cuts Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Red Spruce Capital LLC reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,798 shares of the company’s stock after selling 176 shares during the quarter. Red Spruce Capital LLC’s holdings in IDEXX Laboratories were worth $903,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IDXX. Victory Capital Management Inc. grew its position in shares of IDEXX Laboratories by 6.1% in the 4th quarter. Victory Capital Management Inc. now owns 149,385 shares of the company’s stock worth $60,943,000 after buying an additional 8,595 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of IDEXX Laboratories by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 446,371 shares of the company’s stock worth $182,102,000 after purchasing an additional 12,904 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of IDEXX Laboratories by 18.1% during the 1st quarter. Fifth Third Bancorp now owns 13,535 shares of the company’s stock valued at $6,769,000 after purchasing an additional 2,076 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of IDEXX Laboratories by 4.5% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 42,060 shares of the company’s stock worth $21,033,000 after purchasing an additional 1,800 shares in the last quarter. Finally, FineMark National Bank & Trust grew its stake in IDEXX Laboratories by 13.0% during the 1st quarter. FineMark National Bank & Trust now owns 616 shares of the company’s stock worth $308,000 after buying an additional 71 shares during the last quarter. Institutional investors own 86.85% of the company’s stock.

IDEXX Laboratories Stock Performance

Shares of IDXX stock traded up $0.41 during trading hours on Thursday, hitting $458.70. The company’s stock had a trading volume of 36,609 shares, compared to its average volume of 449,598. The company has a current ratio of 1.33, a quick ratio of 0.89 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $512.27 and a 200 day moving average of $490.81. IDEXX Laboratories, Inc. has a 12-month low of $317.06 and a 12-month high of $564.73. The stock has a market cap of $38.07 billion, a PE ratio of 48.65, a price-to-earnings-growth ratio of 2.77 and a beta of 1.20.

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

Insider Activity

In other IDEXX Laboratories news, CEO Jonathan Jay Mazelsky sold 13,424 shares of IDEXX Laboratories stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $512.01, for a total value of $6,873,222.24. Following the completion of the transaction, the chief executive officer now owns 72,925 shares of the company’s stock, valued at $37,338,329.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the business’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 value of $6,873,222.24. Following the completion of the sale, the chief executive officer now directly owns 72,925 shares in the company, valued at $37,338,329.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Lane sold 16,027 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 4,034 shares in the company, valued at approximately $2,057,340. The disclosure for this sale can be found here. Insiders sold a total of 52,360 shares of company stock valued at $26,743,411 in the last three months. 2.11% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on IDXX. StockNews.com assumed coverage on IDEXX Laboratories in a research note on Thursday, August 17th. They set a “buy” rating on the stock. Atlantic Securities lowered shares of IDEXX Laboratories from an “overweight” rating to a “neutral” rating and set a $610.00 price target on the stock. in a research note on Wednesday, August 2nd. JPMorgan Chase & Co. raised their price target 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. Finally, Morgan Stanley boosted their price objective on shares of IDEXX Laboratories from $590.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $586.00.

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.