Nicholas Investment Partners LP Invests $2.44 Million in IDEXX Laboratories, Inc. (IDXX)

Nicholas Investment Partners LP purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,104 shares of the company’s stock, valued at approximately $2,438,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IDXX. UBS Asset Management Americas Inc. boosted its position in shares of IDEXX Laboratories by 21.8% during the first quarter. UBS Asset Management Americas Inc. now owns 233,209 shares of the company’s stock valued at $36,056,000 after purchasing an additional 41,801 shares in the last quarter. Sei Investments Co. raised its stake in IDEXX Laboratories by 76.6% during the first quarter. Sei Investments Co. now owns 20,277 shares of the company’s stock valued at $3,135,000 after buying an additional 8,792 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in IDEXX Laboratories by 0.7% during the first quarter. Virginia Retirement Systems ET AL now owns 15,100 shares of the company’s stock valued at $2,335,000 after buying an additional 100 shares during the last quarter. State of Wisconsin Investment Board raised its stake in IDEXX Laboratories by 66.3% during the first quarter. State of Wisconsin Investment Board now owns 80,783 shares of the company’s stock valued at $12,490,000 after buying an additional 32,207 shares during the last quarter. Finally, Norinchukin Bank The purchased a new position in IDEXX Laboratories during the first quarter valued at $884,000. Institutional investors own 87.64% of the company’s stock.

A number of research analysts have issued reports on the company. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a research note on Monday, May 29th. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Canaccord Genuity restated a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Aegis assumed coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price target for the company. They noted that the move was a valuation call. Finally, CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $174.00.

In other news, Chairman Jonathan W. Ayers sold 13,000 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $150.79, for a total transaction of $1,960,270.00. Following the sale, the chairman now directly owns 1,044,034 shares in the company, valued at approximately $157,429,886.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebecca M. Henderson sold 2,578 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $152.86, for a total value of $394,073.08. Following the sale, the director now owns 17,274 shares in the company, valued at $2,640,503.64. The disclosure for this sale can be found here. Insiders have sold a total of 151,734 shares of company stock worth $23,436,626 over the last 90 days. Insiders own 2.77% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Nicholas Investment Partners LP Invests $2.44 Million in IDEXX Laboratories, Inc. (IDXX)” was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this news story on another domain, it was copied illegally and republished in violation of United States & international copyright legislation. The original version of this news story can be viewed at https://stocknewstimes.com/2017/09/21/nicholas-investment-partners-lp-invests-2-44-million-in-idexx-laboratories-inc-idxx.html.

Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 158.48 on Thursday. IDEXX Laboratories, Inc. has a 12-month low of $102.45 and a 12-month high of $173.01. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 54.52 and a beta of 0.49. The firm’s 50-day moving average price is $154.86 and its 200 day moving average price is $159.27.

IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. During the same period last year, the firm earned $0.74 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, analysts predict that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.

IDEXX Laboratories 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.

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

Receive News & Ratings for IDEXX Laboratories Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply