Deutsche Bank AG reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,062 shares of the company’s stock after selling 3,090 shares during the period. Deutsche Bank AG owned 0.30% of IDEXX Laboratories worth $41,447,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Zions Bancorporation bought a new position in IDEXX Laboratories in the third quarter worth about $162,000. Benjamin F. Edwards & Company Inc. raised its stake in IDEXX Laboratories by 1,000.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,100 shares of the company’s stock worth $172,000 after buying an additional 1,000 shares in the last quarter. SignalPoint Asset Management LLC bought a new position in IDEXX Laboratories in the fourth quarter worth about $200,000. Ledyard National Bank raised its stake in IDEXX Laboratories by 58.9% in the fourth quarter. Ledyard National Bank now owns 1,295 shares of the company’s stock worth $203,000 after buying an additional 480 shares in the last quarter. Finally, Unio Capital LLC bought a new position in IDEXX Laboratories in the fourth quarter worth about $203,000. 87.09% of the stock is owned by institutional investors.
In other news, Director Daniel M. Junius sold 2,974 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $190.06, for a total transaction of $565,238.44. Following the sale, the director now owns 5,602 shares in the company, valued at $1,064,716.12. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William T. End sold 4,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $184.48, for a total transaction of $737,920.00. Following the sale, the director now owns 41,256 shares in the company, valued at approximately $7,610,906.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 91,736 shares of company stock worth $16,193,502. Corporate insiders own 2.77% of the company’s stock.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Thursday, February 1st. The company reported $0.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.04. IDEXX Laboratories had a net margin of 13.36% and a negative return on equity of 432.19%. The business had revenue of $506.00 million during the quarter, compared to the consensus estimate of $490.51 million. During the same quarter last year, the firm earned $0.58 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. equities research analysts expect that IDEXX Laboratories, Inc. will post 4.09 EPS for the current fiscal year.
IDXX has been the subject of a number of analyst reports. Bank of America raised their target price on shares of IDEXX Laboratories from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Canaccord Genuity reaffirmed a “buy” rating and set a $210.00 target price on shares of IDEXX Laboratories in a research note on Monday, January 29th. BidaskClub raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Piper Jaffray Companies initiated coverage on shares of IDEXX Laboratories in a research note on Tuesday, January 16th. They set an “overweight” rating and a $200.00 target price for the company. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $194.00.
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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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