Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,144 shares of the company’s stock after selling 14,651 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.16% of IDEXX Laboratories worth $23,495,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of 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 in the last quarter. Capital Advisors Ltd. LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth approximately $128,000. 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 in the last quarter. 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 in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of IDEXX Laboratories during the first quarter worth approximately $200,000. 89.42% of the stock is owned by institutional investors.
IDEXX Laboratories, Inc. (IDXX) opened at 151.08 on Friday. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 51.97 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. The company has a 50 day moving average price of $159.00 and a 200 day moving average price of $157.47.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The business had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has authorized a stock buyback plan on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
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A number of analysts have commented on IDXX shares. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, June 13th. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a report on Tuesday, June 13th. Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 1st. Finally, CL King raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a report on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $174.00.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,572 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total value of $429,266.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $154.91, for a total transaction 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 disclosure for this sale can be found here. In the last quarter, insiders sold 154,306 shares of company stock worth $24,087,283. 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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