Teachers Retirement System of The State of Kentucky Cuts Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX - Free Report) by 74.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,619 shares of the company's stock after selling 19,572 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in IDEXX Laboratories were worth $3,225,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Riverview Trust Co bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Crewe Advisors LLC bought a new position in IDEXX Laboratories during the 1st quarter worth approximately $26,000. Ridgewood Investments LLC bought a new position in IDEXX Laboratories during the 2nd quarter worth approximately $27,000. Institutional & Family Asset Management LLC bought a new position in IDEXX Laboratories during the 2nd quarter worth approximately $28,000. Finally, nVerses Capital LLC bought a new position in IDEXX Laboratories during the 2nd quarter worth approximately $49,000. 87.84% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories Stock Down 1.2 %

IDXX stock traded down $5.85 during midday trading on Friday, reaching $477.67. 468,656 shares of the company's stock traded hands, compared to its average volume of 468,802. The company has a market cap of $39.45 billion, a price-to-earnings ratio of 46.24, a P/E/G ratio of 4.32 and a beta of 1.33. The firm's fifty day moving average price is $487.95 and its 200-day moving average price is $496.16. The company has a quick ratio of 1.03, a current ratio of 1.37 and a debt-to-equity ratio of 0.33. IDEXX Laboratories, Inc. has a 52 week low of $372.50 and a 52 week high of $583.39.

IDEXX Laboratories (NASDAQ:IDXX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $2.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.88 by ($0.44). The firm had revenue of $1 billion for the quarter, compared to analysts' expectations of $1.01 billion. IDEXX Laboratories had a return on equity of 57.03% and a net margin of 22.34%. IDEXX Laboratories's revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.67 earnings per share. As a group, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 10.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

IDXX has been the subject of several research analyst reports. StockNews.com lowered shares of IDEXX Laboratories from a "buy" rating to a "hold" rating in a research note on Wednesday, July 10th. Piper Sandler lowered their price objective on shares of IDEXX Laboratories from $600.00 to $520.00 and set a "neutral" rating for the company in a research note on Wednesday, August 14th. Stifel Nicolaus lowered their price objective on shares of IDEXX Laboratories from $520.00 to $510.00 and set a "hold" rating for the company in a research note on Monday, June 24th. Finally, BTIG Research initiated coverage on shares of IDEXX Laboratories in a research note on Thursday, July 25th. They issued a "buy" rating and a $580.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $582.25.

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.