Sawgrass Asset Management LLC Sells 47 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Sawgrass Asset Management LLC reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 640 shares of the company’s stock after selling 47 shares during the period. Sawgrass Asset Management LLC’s holdings in IDEXX Laboratories were worth $355,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of IDEXX Laboratories by 4.1% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 7,650 shares of the company’s stock valued at $3,345,000 after buying an additional 302 shares during the period. Mackenzie Financial Corp increased its position in shares of IDEXX Laboratories by 0.8% during the third quarter. Mackenzie Financial Corp now owns 43,678 shares of the company’s stock valued at $18,572,000 after buying an additional 326 shares during the period. Strs Ohio increased its position in shares of IDEXX Laboratories by 1.0% during the third quarter. Strs Ohio now owns 19,558 shares of the company’s stock valued at $8,552,000 after buying an additional 196 shares during the period. IFM Investors Pty Ltd increased its position in shares of IDEXX Laboratories by 6.3% during the third quarter. IFM Investors Pty Ltd now owns 19,298 shares of the company’s stock valued at $8,438,000 after buying an additional 1,149 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of IDEXX Laboratories by 16.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 92,971 shares of the company’s stock valued at $40,653,000 after buying an additional 13,062 shares during the period. 87.84% of the stock is currently owned by institutional investors.

IDEXX Laboratories Price Performance

IDXX traded up $6.81 during midday trading on Tuesday, hitting $483.68. The stock had a trading volume of 368,074 shares, compared to its average volume of 442,042. The company has a market cap of $39.95 billion, a P/E ratio of 46.82, a price-to-earnings-growth ratio of 3.78 and a beta of 1.27. The business has a fifty day moving average of $519.60 and a 200 day moving average of $514.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.16 and a current ratio of 1.57. IDEXX Laboratories, Inc. has a 1 year low of $372.50 and a 1 year high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Monday, February 5th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.20. The firm had revenue of $901.60 million during the quarter, compared to analyst estimates of $891.88 million. IDEXX Laboratories had a return on equity of 63.66% and a net margin of 23.26%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 11.05 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of IDEXX Laboratories from $600.00 to $630.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 6th. Barclays decreased their price objective on shares of IDEXX Laboratories from $655.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, May 2nd. StockNews.com cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group upped their price objective on shares of IDEXX Laboratories from $500.00 to $650.00 and gave the stock a “buy” rating in a research report on Wednesday, January 17th. Finally, William Blair restated an “outperform” rating on shares of IDEXX Laboratories in a research report on Tuesday, April 9th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, IDEXX Laboratories has an average rating of “Moderate Buy” and an average target price of $580.88.

Insider Activity

In other news, CFO Brian P. Mckeon sold 23,326 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the sale, the chief financial officer now owns 29,718 shares of the company’s stock, valued at $16,939,557.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Brian P. Mckeon sold 23,326 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $570.01, for a total transaction of $13,296,053.26. Following the completion of the transaction, the chief financial officer now owns 29,718 shares in the company, valued at $16,939,557.18. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jonathan Jay Mazelsky sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $572.61, for a total value of $6,871,320.00. Following the transaction, the chief executive officer now owns 79,247 shares of the company’s stock, valued at approximately $45,377,624.67. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,524 shares of company stock valued at $24,871,960. 2.18% of the stock is currently owned by company insiders.

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 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.