Acadian Asset Management LLC Buys 43,463 Shares of IDEXX Laboratories, Inc. (IDXX)

Acadian Asset Management LLC raised its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 297.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 58,064 shares of the company’s stock after buying an additional 43,463 shares during the period. Acadian Asset Management LLC owned approximately 0.07% of IDEXX Laboratories worth $9,372,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after buying an additional 17 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after buying an additional 700 shares during the period. Global X Management Co. LLC boosted its stake in shares of IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after buying an additional 323 shares during the period. Flagship Harbor Advisors LLC bought a new stake in shares of IDEXX Laboratories during the first quarter worth approximately $200,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $208,000. Institutional investors own 89.42% of the company’s stock.

Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) traded down 0.96% during trading on Friday, hitting $150.44. 567,106 shares of the stock traded hands. The company has a 50-day moving average of $160.14 and a 200-day moving average of $156.81. The firm has a market cap of $13.13 billion, a P/E ratio of 51.75 and a beta of 0.49. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business had revenue of $508.90 million during the quarter, compared to the consensus estimate of $502.44 million. During the same quarter in the prior year, the company posted $0.74 earnings per share. IDEXX Laboratories’s revenue was up 9.1% compared to the same quarter last year. On average, analysts forecast that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.

IDEXX Laboratories declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 3rd that permits the company to buyback 3,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

A number of analysts have recently commented on IDXX shares. BidaskClub cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 price target for the company in a research note on Tuesday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $180.00 target price (up from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research note on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. IDEXX Laboratories has a consensus rating of “Hold” and an average price target of $173.80.

In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $154.91, for a total value of $2,788,380.00. Following the completion of the transaction, the chief executive officer now owns 1,043,034 shares in the company, valued at approximately $161,576,396.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $155.00, for a total value of $8,990,000.00. Following the completion of the transaction, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The disclosure for this sale can be found here. Insiders sold a total of 151,572 shares of company stock valued at $23,715,597 in the last 90 days. Corporate insiders own 2.77% of the company’s stock.

About IDEXX Laboratories

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.