Russell Investments Group Ltd. lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 58.1% in the second quarter, Holdings Channel reports. The firm owned 20,090 shares of the company’s stock after selling 27,864 shares during the quarter. Russell Investments Group Ltd.’s holdings in IDEXX Laboratories were worth $5,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Bigelow Investment Advisors LLC lifted its stake in shares of IDEXX Laboratories by 2.8% in the 2nd quarter. Bigelow Investment Advisors LLC now owns 1,363 shares of the company’s stock worth $375,000 after acquiring an additional 37 shares during the period. Ropes Wealth Advisors LLC lifted its stake in shares of IDEXX Laboratories by 0.5% in the 2nd quarter. Ropes Wealth Advisors LLC now owns 7,293 shares of the company’s stock worth $2,008,000 after acquiring an additional 38 shares during the period. Nordea Investment Management AB lifted its stake in shares of IDEXX Laboratories by 0.9% in the 1st quarter. Nordea Investment Management AB now owns 4,485 shares of the company’s stock worth $1,003,000 after acquiring an additional 40 shares during the period. Western Wealth Management LLC lifted its stake in shares of IDEXX Laboratories by 0.7% in the 2nd quarter. Western Wealth Management LLC now owns 5,669 shares of the company’s stock worth $1,562,000 after acquiring an additional 40 shares during the period. Finally, US Bancorp DE lifted its stake in shares of IDEXX Laboratories by 0.4% in the 1st quarter. US Bancorp DE now owns 12,253 shares of the company’s stock worth $2,739,000 after acquiring an additional 48 shares during the period. Hedge funds and other institutional investors own 87.04% of the company’s stock.

Shares of IDXX traded down $1.42 during trading hours on Friday, reaching $269.63. The company had a trading volume of 5,581 shares, compared to its average volume of 365,627. The firm has a 50 day simple moving average of $279.08 and a 200-day simple moving average of $252.99. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 4.49. The company has a market capitalization of $23.04 billion, a price-to-earnings ratio of 63.39 and a beta of 0.85. IDEXX Laboratories, Inc. has a 12-month low of $176.11 and a 12-month high of $292.17.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.06. The business had revenue of $620.10 million during the quarter, compared to the consensus estimate of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.23 EPS. Sell-side analysts forecast that IDEXX Laboratories, Inc. will post 4.86 earnings per share for the current year.

In other IDEXX Laboratories news, Director Rebecca M. Henderson sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $271.17, for a total transaction of $1,084,680.00. Following the completion of the transaction, the director now directly owns 14,696 shares in the company, valued at approximately $3,985,114.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sophie V. Vandebroek sold 9,044 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $263.86, for a total transaction of $2,386,349.84. Following the transaction, the director now owns 12,116 shares of the company’s stock, valued at $3,196,927.76. The disclosure for this sale can be found here. Insiders sold a total of 73,305 shares of company stock valued at $19,402,442 in the last quarter. Insiders own 2.70% of the company’s stock.

Several analysts have recently commented on the stock. BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Guggenheim assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, May 23rd. They issued a “buy” rating and a $276.00 target price for the company. Canaccord Genuity restated a “buy” rating and issued a $285.00 target price on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Credit Suisse Group raised their target price on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Finally, Stifel Nicolaus raised their target price on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. IDEXX Laboratories has an average rating of “Buy” and an average target price of $285.29.

IDEXX Laboratories Company Profile

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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