West Coast Financial LLC Has $486,000 Stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

West Coast Financial LLC decreased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 9.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,011 shares of the company’s stock after selling 311 shares during the period. West Coast Financial LLC’s holdings in IDEXX Laboratories were worth $486,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in IDXX. BlackRock Inc. increased its stake in shares of IDEXX Laboratories by 1,967.1% in the first quarter. BlackRock Inc. now owns 6,427,027 shares of the company’s stock valued at $993,680,000 after buying an additional 6,116,102 shares during the last quarter. Vanguard Group Inc. increased its stake in IDEXX Laboratories by 24.3% in the first quarter. Vanguard Group Inc. now owns 8,910,555 shares of the company’s stock worth $1,377,660,000 after buying an additional 1,740,446 shares in the last quarter. State Street Corp increased its stake in IDEXX Laboratories by 38.6% in the first quarter. State Street Corp now owns 3,911,739 shares of the company’s stock worth $604,793,000 after buying an additional 1,089,880 shares in the last quarter. Renaissance Technologies LLC increased its stake in IDEXX Laboratories by 59.1% in the first quarter. Renaissance Technologies LLC now owns 975,600 shares of the company’s stock worth $150,838,000 after buying an additional 362,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in IDEXX Laboratories by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 887,703 shares of the company’s stock worth $137,248,000 after buying an additional 349,344 shares in the last quarter. 89.80% of the stock is owned by institutional investors and hedge funds.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 1.30% during trading on Friday, reaching $153.02. 502,062 shares of the company were exchanged. The firm’s 50-day moving average is $161.67 and its 200 day moving average is $155.62. The company has a market capitalization of $13.35 billion, a P/E ratio of 52.64 and a beta of 0.49. IDEXX Laboratories, Inc. has a one year low of $102.45 and a one year high of $173.01.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The business had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. During the same period in the previous year, the business posted $0.74 earnings per share. IDEXX Laboratories’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.

IDEXX Laboratories declared that its board has approved a stock repurchase 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. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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A number of analysts have issued reports on IDXX shares. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, June 12th. BidaskClub raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 1st. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective (up previously from $165.00) on shares of IDEXX Laboratories in a report on Friday, April 28th. Finally, Aegis began coverage on shares of IDEXX Laboratories in a report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective for the company. They noted that the move was a valuation call. Two equities 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. IDEXX Laboratories has a consensus rating of “Hold” and a consensus price target of $173.80.

In other IDEXX Laboratories news, Director William T. End sold 5,000 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $162.55, for a total transaction of $812,750.00. Following the completion of the sale, the director now directly owns 45,256 shares in the company, valued at $7,356,362.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 13,000 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, May 30th. The shares were 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 of the company’s stock, valued at $173,357,053.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,572 shares of company stock valued at $8,844,817. 2.77% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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