IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Tikehau Investment Management

Tikehau Investment Management cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,544 shares of the company’s stock after selling 93 shares during the period. IDEXX Laboratories accounts for about 2.9% of Tikehau Investment Management’s holdings, making the stock its 16th biggest position. Tikehau Investment Management’s holdings in IDEXX Laboratories were worth $1,908,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IDXX. Geode Capital Management LLC increased its stake in shares of IDEXX Laboratories by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 2,297,271 shares of the company’s stock valued at $948,279,000 after acquiring an additional 37,734 shares during the last quarter. Bamco Inc. NY boosted its holdings in IDEXX Laboratories by 4.3% in the 4th quarter. Bamco Inc. NY now owns 2,005,522 shares of the company’s stock worth $829,163,000 after acquiring an additional 82,264 shares during the period. Invesco Ltd. boosted its stake in shares of IDEXX Laboratories by 6.8% during the 4th quarter. Invesco Ltd. now owns 1,160,988 shares of the company’s stock valued at $479,999,000 after buying an additional 74,324 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of IDEXX Laboratories by 58.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,126,002 shares of the company’s stock valued at $472,865,000 after buying an additional 414,802 shares during the last quarter. Finally, Norges Bank bought a new position in IDEXX Laboratories during the fourth quarter worth $412,258,000. 87.84% of the stock is currently owned by hedge funds and other institutional investors.

IDEXX Laboratories Price Performance

Shares of NASDAQ:IDXX opened at $565.19 on Friday. The company has a quick ratio of 0.81, a current ratio of 1.16 and a debt-to-equity ratio of 0.31. IDEXX Laboratories, Inc. has a twelve month low of $356.14 and a twelve month high of $568.47. The stock’s 50 day moving average is $526.59 and its 200-day moving average is $467.17. The firm has a market capitalization of $45.45 billion, a price-to-earnings ratio of 52.24, a PEG ratio of 4.11 and a beta of 1.54.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, May 1st. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.93 by $0.03. IDEXX Laboratories had a return on equity of 57.35% and a net margin of 22.76%. The firm had revenue of $998.43 million during the quarter, compared to analyst estimates of $998.25 million. During the same period last year, the firm posted $2.71 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 11.93 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director M Anne Szostak sold 1,260 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $512.34, for a total transaction of $645,548.40. Following the completion of the sale, the director owned 1,801 shares in the company, valued at approximately $922,724.34. This trade represents a 41.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on IDXX. Stifel Nicolaus raised their target price on IDEXX Laboratories from $510.00 to $540.00 and gave the company a “hold” rating in a research note on Wednesday, July 2nd. Morgan Stanley upped their price target on shares of IDEXX Laboratories from $548.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Jefferies Financial Group began coverage on IDEXX Laboratories in a research note on Tuesday, July 1st. They set a “buy” rating and a $625.00 target price on the stock. Leerink Partners boosted their target price on IDEXX Laboratories from $580.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, July 17th. Finally, Wall Street Zen upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, July 12th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, IDEXX Laboratories currently has an average rating of “Moderate Buy” and an average price target of $557.88.

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.