World Asset Management Inc decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 8,428 shares of the company’s stock after selling 1,308 shares during the period. World Asset Management Inc’s holdings in IDEXX Laboratories were worth $1,360,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Bronfman E.L. Rothschild L.P. raised its position in IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after buying an additional 17 shares during the last quarter. Capital Advisors Ltd. LLC purchased a new position in IDEXX Laboratories during the second quarter worth $128,000. Acrospire Investment Management LLC raised its position in IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after buying an additional 700 shares during the last quarter. Global X Management Co. LLC raised its position in IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after buying an additional 323 shares during the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new position in IDEXX Laboratories during the first quarter worth $200,000. Institutional investors own 89.80% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) traded up 1.30% during midday trading on Friday, reaching $153.02. 502,062 shares of the company’s stock traded hands. IDEXX Laboratories, Inc. has a one year low of $102.45 and a one year high of $173.01. The stock’s 50-day moving average price is $161.67 and its 200 day moving average price is $155.62. The firm has a market capitalization of $13.35 billion, a PE ratio of 52.64 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. The business had revenue of $508.90 million during the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.74 earnings per share. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
IDEXX Laboratories announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.
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A number of analysts recently issued reports on the stock. Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Friday, May 26th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, CL King upgraded shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. IDEXX Laboratories has a consensus rating of “Hold” and an average target price of $173.80.
In related news, Chairman Jonathan W. Ayers sold 18,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $155.22, for a total transaction of $2,793,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jonathan W. Ayers sold 17,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $154.54, for a total value of $2,627,180.00. Following the sale, the chairman now owns 1,039,034 shares of the company’s stock, valued at $160,572,314.36. The disclosure for this sale can be found here. Insiders sold 55,572 shares of company stock valued at $8,844,817 over the last 90 days. Company insiders own 2.77% of the company’s stock.
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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