Highland Capital Management LLC maintained its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,710 shares of the company’s stock at the end of the second quarter. Highland Capital Management LLC’s holdings in IDEXX Laboratories were worth $276,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of IDEXX Laboratories by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 271,018 shares of the company’s stock worth $31,784,000 after buying an additional 24,068 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $230,000. Ibex Wealth Advisors bought a new position in shares of IDEXX Laboratories during the fourth quarter worth approximately $2,238,000. UBS Asset Management Americas Inc. boosted its position in shares of IDEXX Laboratories by 1.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 191,408 shares of the company’s stock worth $22,447,000 after buying an additional 3,571 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in shares of IDEXX Laboratories by 37.9% in the fourth quarter. Teachers Advisors LLC now owns 133,604 shares of the company’s stock worth $15,668,000 after buying an additional 36,732 shares in the last quarter. 89.04% of the stock is currently owned by institutional investors.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 166.62 on Monday. IDEXX Laboratories, Inc. has a 12-month low of $92.52 and a 12-month high of $173.01. The company has a market capitalization of $14.68 billion, a PE ratio of 61.73 and a beta of 0.48. The firm’s 50-day moving average price is $164.57 and its 200-day moving average price is $151.47.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Friday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.16. The company had revenue of $462 million for the quarter, compared to analyst estimates of $455.10 million. IDEXX Laboratories had a net margin of 13.47% and a negative return on equity of 706.91%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. On average, analysts expect that IDEXX Laboratories, Inc. will post $3.05 EPS for the current fiscal year.
IDEXX Laboratories announced that its board has initiated a share buyback program on Wednesday, May 3rd that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts recently commented on IDXX shares. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, April 5th. Canaccord Genuity reissued a “buy” rating and set a $180.00 price target (up from $165.00) on shares of IDEXX Laboratories in a report on Friday, April 28th. Stifel Nicolaus raised their price target on IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 1st. Finally, Aegis started coverage on IDEXX Laboratories in a report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $167.25.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,572 shares of the stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total transaction of $429,266.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $167.82, for a total transaction of $2,181,660.00. Following the sale, the chairman now owns 1,032,994 shares in the company, valued at $173,357,053.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,272 shares of company stock worth $12,264,082. 2.77% of the stock is owned by company insiders.
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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