State Street Corp lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,834,253 shares of the company’s stock after selling 77,486 shares during the period. State Street Corp owned approximately 4.39% of IDEXX Laboratories worth $618,927,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in IDEXX Laboratories by 160.4% in the second quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock valued at $100,000 after acquiring an additional 385 shares during the period. Sun Life Financial INC boosted its position in shares of IDEXX Laboratories by 9,085.7% during the second quarter. Sun Life Financial INC now owns 643 shares of the company’s stock valued at $104,000 after buying an additional 636 shares during the last quarter. Capital Advisors Ltd. LLC purchased a new position in shares of IDEXX Laboratories during the second quarter valued at approximately $128,000. Global X Management Co. LLC boosted its position in shares of IDEXX Laboratories by 44.6% during the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock valued at $162,000 after buying an additional 323 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $200,000. 87.64% of the stock is owned by hedge funds and other institutional investors.
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Several research analysts recently issued reports on IDXX shares. BidaskClub cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 target price on shares of IDEXX Laboratories in a research report on Friday, October 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research report on Friday, July 14th. Bank of America Corporation raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Wednesday, August 23rd. Finally, CL King raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $174.00.
In other news, Director Lawrence D. Kingsley purchased 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were purchased at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the purchase, the director now directly owns 3,344 shares in the company, valued at approximately $507,485.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the firm’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $150.79, for a total value of $1,960,270.00. Following the completion of the transaction, the chairman now owns 1,044,034 shares in the company, valued at $157,429,886.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,734 shares of company stock worth $23,436,626. Company insiders own 2.77% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 157.785 on Wednesday. The company’s 50-day moving average price is $156.23 and its 200-day moving average price is $159.89. IDEXX Laboratories, Inc. has a one year low of $102.45 and a one year high of $173.01. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of 54.278 and a beta of 0.48.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the 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 business had revenue of $508.90 million for the quarter, compared to the consensus estimate of $502.44 million. During the same period last year, the business posted $0.74 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts predict that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.
About IDEXX Laboratories
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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