Bank of New York Mellon Corp lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 30.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 955,225 shares of the company’s stock after purchasing an additional 220,818 shares during the quarter. Bank of New York Mellon Corp owned about 1.10% of IDEXX Laboratories worth $148,527,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in shares of IDEXX Laboratories by 160.4% during the second quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock worth $100,000 after purchasing an additional 385 shares during the last quarter. Sun Life Financial INC grew its holdings in IDEXX Laboratories by 9,085.7% during the second quarter. Sun Life Financial INC now owns 643 shares of the company’s stock worth $104,000 after acquiring an additional 636 shares during the period. BB&T Investment Services Inc. acquired a new stake in IDEXX Laboratories in the second quarter valued at $104,000. Capital Advisors Ltd. LLC acquired a new stake in IDEXX Laboratories in the second quarter valued at $128,000. Finally, Coastline Trust Co acquired a new stake in IDEXX Laboratories in the second quarter valued at $202,000. Institutional investors and hedge funds own 86.80% of the company’s stock.
Several research firms have weighed in on IDXX. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a report on Friday, October 6th. Bank of America raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Wednesday, August 23rd. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Tuesday, October 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $173.67.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.05. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The business had revenue of $492.00 million during the quarter, compared to analyst estimates of $492.94 million. During the same quarter last year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. analysts expect that IDEXX Laboratories, Inc. will post 3.24 EPS for the current fiscal year.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $156.07, for a total transaction of $312,140.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jonathan W. Ayers sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $153.75, for a total value of $2,767,500.00. Following the sale, the chief executive officer now owns 1,064,573 shares of the company’s stock, valued at approximately $163,678,098.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,000 shares of company stock valued at $16,686,200. 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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