Ropes Wealth Advisors LLC Trims Stake in IDEXX Laboratories, Inc. (IDXX)

Ropes Wealth Advisors LLC reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,280 shares of the company’s stock after selling 552 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $1,318,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of IDXX. Valeo Financial Advisors LLC bought a new position in IDEXX Laboratories in the second quarter worth $134,000. Rehmann Capital Advisory Group lifted its position in IDEXX Laboratories by 44.9% in the second quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock worth $146,000 after purchasing an additional 207 shares during the period. Cerebellum GP LLC bought a new position in IDEXX Laboratories in the second quarter worth $181,000. Winthrop Advisory Group LLC bought a new position in IDEXX Laboratories in the second quarter worth $206,000. Finally, KCM Investment Advisors LLC bought a new position in IDEXX Laboratories in the second quarter worth $210,000. 91.11% of the stock is owned by hedge funds and other institutional investors.

In other IDEXX Laboratories news, Director Bruce L. Claflin bought 415 shares of the stock in a transaction dated Friday, August 3rd. The stock was bought at an average cost of $242.12 per share, for a total transaction of $100,479.80. Following the completion of the purchase, the director now owns 1,415 shares in the company, valued at approximately $342,599.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $245.50, for a total value of $7,365,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,129 shares of company stock valued at $17,159,219. 2.56% of the stock is currently owned by corporate insiders.



IDXX has been the subject of a number of analyst reports. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 1st. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Credit Suisse Group lifted their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a report on Friday, August 17th. Stifel Nicolaus lifted their price objective on IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 10th. Finally, Piper Jaffray Companies lifted their price objective on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $244.00.

Shares of NASDAQ IDXX opened at $213.49 on Wednesday. The firm has a market cap of $17.62 billion, a price-to-earnings ratio of 65.09, a P/E/G ratio of 1.86 and a beta of 0.64. IDEXX Laboratories, Inc. has a 52-week low of $146.09 and a 52-week high of $256.22.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.06. The company had revenue of $580.75 million during the quarter, compared to analysts’ expectations of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The business’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the business earned $0.87 earnings per share. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 4.18 EPS for the current year.

About IDEXX Laboratories

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. It 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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