Biondo Investment Advisors LLC lowered its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,362 shares of the company’s stock after selling 4,199 shares during the period. IDEXX Laboratories makes up 3.3% of Biondo Investment Advisors LLC’s investment portfolio, making the stock its 7th largest holding. Biondo Investment Advisors LLC owned about 0.09% of IDEXX Laboratories worth $12,029,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake 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 in the last quarter. Advisors Capital Management LLC purchased a new position in shares of IDEXX Laboratories during the third quarter valued at approximately $262,000. Cipher Capital LP purchased a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $2,284,000. Pitcairn Co. raised its holdings in shares of IDEXX Laboratories by 21.8% during the second quarter. Pitcairn Co. now owns 6,977 shares of the company’s stock valued at $1,126,000 after purchasing an additional 1,249 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of IDEXX Laboratories by 131.7% during the second quarter. American Century Companies Inc. now owns 480,978 shares of the company’s stock valued at $77,639,000 after purchasing an additional 273,398 shares during the last quarter. Hedge funds and other institutional investors own 88.41% of the company’s stock.
In other news, Director Rebecca M. Henderson sold 5,156 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $153.29, for a total value of $790,363.24. Following the completion of the sale, the director now directly owns 17,274 shares of the company’s stock, valued at $2,647,931.46. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Rebecca M. Henderson sold 2,578 shares of the stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $152.86, for a total transaction of $394,073.08. Following the completion of the sale, the director now directly owns 17,274 shares of the company’s stock, valued at $2,640,503.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,734 shares of company stock valued at $19,518,766. Corporate insiders own 2.77% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up $0.80 during mid-day trading on Monday, reaching $154.88. 512,700 shares of the company’s stock were exchanged, compared to its average volume of 712,807. IDEXX Laboratories, Inc. has a twelve month low of $113.47 and a twelve month high of $173.01. The stock has a market capitalization of $13,508.43, a PE ratio of 52.15, a P/E/G ratio of 2.34 and a beta of 0.46. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of -12.48.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The firm had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $492.94 million. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.62 earnings per share. sell-side analysts predict that IDEXX Laboratories, Inc. will post 3.24 earnings per share for the current year.
IDXX has been the subject of several research reports. Zacks Investment Research cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Stifel Nicolaus reissued a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 21st. Canaccord Genuity reissued a “buy” rating and set a $180.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, August 22nd. BidaskClub cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, CL King raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. IDEXX Laboratories presently has a consensus rating of “Hold” and an average target price of $173.67.
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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