NN Investment Partners Holdings N.V. boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 722.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 4,933 shares of the company’s stock after buying an additional 4,333 shares during the period. NN Investment Partners Holdings N.V.’s holdings in IDEXX Laboratories were worth $796,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of IDEXX Laboratories by 1,967.1% in the first quarter. BlackRock Inc. now owns 6,427,027 shares of the company’s stock valued at $993,680,000 after buying an additional 6,116,102 shares in the last quarter. Vanguard Group Inc. raised its position in shares of IDEXX Laboratories by 24.3% in the first quarter. Vanguard Group Inc. now owns 8,910,555 shares of the company’s stock valued at $1,377,660,000 after buying an additional 1,740,446 shares in the last quarter. State Street Corp raised its position in shares of IDEXX Laboratories by 38.6% in the first quarter. State Street Corp now owns 3,911,739 shares of the company’s stock valued at $604,793,000 after buying an additional 1,089,880 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of IDEXX Laboratories by 59.1% in the first quarter. Renaissance Technologies LLC now owns 975,600 shares of the company’s stock valued at $150,838,000 after buying an additional 362,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of IDEXX Laboratories by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 887,703 shares of the company’s stock valued at $137,248,000 after buying an additional 349,344 shares in the last quarter. Institutional investors own 89.12% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 0.57% during mid-day trading on Thursday, reaching $152.07. 97,811 shares of the company were exchanged. IDEXX Laboratories, Inc. has a one year low of $93.14 and a one year high of $173.01. The stock has a 50-day moving average price of $163.95 and a 200 day moving average price of $154.43. The company has a market capitalization of $13.40 billion, a PE ratio of 56.34 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The business had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 595.57%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. Analysts predict that IDEXX Laboratories, Inc. will post $3.07 EPS for the current year.
IDEXX Laboratories declared that its board has initiated a stock buyback plan on Wednesday, May 3rd that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
Several research analysts recently issued reports on the stock. Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research note on Wednesday. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 price objective on the stock in a research note on Wednesday, July 19th. CL King raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Friday, July 28th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Finally, BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. IDEXX Laboratories currently has an average rating of “Hold” and an average price target of $173.80.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 27,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $162.69, for a total transaction of $4,392,630.00. Following the transaction, the chairman now owns 1,024,994 shares in the company, valued at approximately $166,756,273.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total transaction of $2,181,660.00. Following the transaction, the chairman now owns 1,032,994 shares in the company, valued at approximately $173,357,053.08. The disclosure for this sale can be found here. Insiders have sold a total of 73,572 shares of company stock worth $11,992,167 in the last 90 days. Company insiders own 2.77% of the company’s stock.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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