IDEXX Laboratories, Inc. (NASDAQ:IDXX) CEO Jonathan W. Ayers sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $154.62, for a total value of $3,092,400.00. Following the transaction, the chief executive officer now directly owns 1,043,034 shares of the company’s stock, valued at approximately $161,273,917.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Jonathan W. Ayers also recently made the following trade(s):
- On Tuesday, August 8th, Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock. The stock was sold at an average price of $155.22, for a total value of $2,793,960.00.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 150.44 on Friday. The stock 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 12-month low of $102.45 and a 12-month high of $173.01. The firm’s 50 day moving average price is $160.14 and its 200-day moving average price is $156.81.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The firm had revenue of $508.90 million during the quarter, compared to the consensus estimate of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 earnings per share. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
IDEXX Laboratories declared that its Board of Directors has approved a share repurchase program on Wednesday, May 3rd that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
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IDXX has been the topic of a number of research analyst reports. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, June 12th. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Stifel Nicolaus upped their target price on IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Finally, Canaccord Genuity reiterated a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of IDEXX Laboratories in a report on Friday, April 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $173.80.
Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of IDEXX Laboratories by 4.0% in the second quarter. Vanguard Group Inc. now owns 9,264,579 shares of the company’s stock worth $1,495,488,000 after buying an additional 354,024 shares during the period. BlackRock Inc. increased its position in shares of IDEXX Laboratories by 10.5% in the second quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock worth $1,146,142,000 after buying an additional 673,347 shares during the period. State Street Corp increased 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 worth $604,793,000 after buying an additional 1,089,880 shares during the period. Koch Industries Inc. increased its position in shares of IDEXX Laboratories by 44,533.1% in the second quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock worth $1,391,000 after buying an additional 1,396,113 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of IDEXX Laboratories by 38.6% in the second quarter. Renaissance Technologies LLC now owns 1,351,900 shares of the company’s stock worth $218,224,000 after buying an additional 376,300 shares during the period. 89.42% of the stock is owned by institutional investors.
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.
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