Public Employees Retirement Association of Colorado Sells 589 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Public Employees Retirement Association of Colorado lessened its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,143 shares of the company’s stock after selling 589 shares during the period. Public Employees Retirement Association of Colorado’s holdings in IDEXX Laboratories were worth $6,601,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Panagora Asset Management Inc. raised its position in shares of IDEXX Laboratories by 50.3% in the first quarter. Panagora Asset Management Inc. now owns 3,232 shares of the company’s stock valued at $1,768,000 after buying an additional 1,081 shares in the last quarter. Raymond James Trust N.A. raised its position in shares of IDEXX Laboratories by 26.8% in the first quarter. Raymond James Trust N.A. now owns 1,624 shares of the company’s stock valued at $888,000 after buying an additional 343 shares in the last quarter. Cetera Investment Advisers raised its position in shares of IDEXX Laboratories by 77.1% in the first quarter. Cetera Investment Advisers now owns 3,675 shares of the company’s stock valued at $2,010,000 after buying an additional 1,600 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of IDEXX Laboratories by 3.0% in the first quarter. Moors & Cabot Inc. now owns 1,757 shares of the company’s stock valued at $961,000 after buying an additional 52 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in shares of IDEXX Laboratories by 15.6% in the first quarter. Sequoia Financial Advisors LLC now owns 992 shares of the company’s stock valued at $543,000 after buying an additional 134 shares in the last quarter. Institutional investors own 86.85% of the company’s stock.

IDEXX Laboratories Stock Up 5.1 %

Shares of NASDAQ:IDXX opened at $454.25 on Wednesday. The company has a fifty day moving average of $435.44 and a 200-day moving average of $475.33. The company has a market capitalization of $37.73 billion, a PE ratio of 46.35, a price-to-earnings-growth ratio of 2.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.02 and a current ratio of 1.43. IDEXX Laboratories, Inc. has a 52-week low of $372.50 and a 52-week high of $564.73.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $2.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.37 by $0.16. The company had revenue of $915.53 million during the quarter, compared to the consensus estimate of $926.88 million. IDEXX Laboratories had a net margin of 22.93% and a return on equity of 85.68%. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the prior year, the business earned $2.15 earnings per share. On average, equities analysts predict that IDEXX Laboratories, Inc. will post 9.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on IDXX. Barclays boosted their price objective on shares of IDEXX Laboratories from $590.00 to $592.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. 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 research report on Thursday, August 3rd. JPMorgan Chase & Co. lowered their price objective on shares of IDEXX Laboratories from $600.00 to $550.00 and set an “overweight” rating for the company in a research report on Thursday, November 2nd. Piper Sandler boosted their price objective on shares of IDEXX Laboratories from $520.00 to $525.00 and gave the company an “overweight” rating in a research report on Monday, November 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of IDEXX Laboratories from $578.00 to $500.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $548.14.

Insider Buying and Selling

In related news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the business’s 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 sale, the chief executive officer now owns 72,925 shares of the company’s stock, valued at $37,338,329.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Jonathan Jay Mazelsky sold 13,424 shares of the business’s 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 sale, the chief executive officer now owns 72,925 shares of the company’s stock, valued at $37,338,329.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP James F. Polewaczyk sold 22,909 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $510.56, for a total transaction of $11,696,419.04. Following the completion of the sale, the executive vice president now directly owns 10,038 shares in the company, valued at approximately $5,125,001.28. The disclosure for this sale can be found here. 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 worldwide. The company operates through three segments: Companion Animal Group; Water Quality Products; and Livestock, Poultry and Dairy.