Louisiana State Employees Retirement System boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,500 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in IDEXX Laboratories were worth $888,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. boosted 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. Acrospire Investment Management LLC boosted 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 boosted 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. Flagship Harbor Advisors LLC bought a new position in IDEXX Laboratories during the first quarter worth $200,000. Finally, Highbridge Capital Management LLC bought a new position in IDEXX Laboratories during the fourth quarter worth $208,000. Institutional investors and hedge funds own 89.42% of the company’s stock.
IDEXX Laboratories, Inc. (IDXX) traded down 0.96% on Friday, reaching $150.44. The company had a trading volume of 567,106 shares. IDEXX Laboratories, Inc. has a 1-year low of $102.45 and a 1-year high of $173.01. The stock’s 50 day moving average is $160.14 and its 200-day moving average is $156.81. The stock has a market capitalization of $13.13 billion, a P/E ratio of 51.75 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data 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 company had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period last year, the company earned $0.74 earnings per share. IDEXX Laboratories’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities analysts predict that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has authorized a stock repurchase plan on Wednesday, May 3rd that permits the company to repurchase 3,000,000 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
A number of research firms have recently weighed in on IDXX. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a research report on Wednesday, June 28th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Aegis began coverage on IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. IDEXX Laboratories currently has an average rating of “Hold” and an average price target of $173.80.
In other IDEXX Laboratories news, Director Lawrence D. Kingsley acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $151.76 per share, with a total value of $303,520.00. Following the completion of the acquisition, the director now owns 3,344 shares in the company, valued at $507,485.44. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 17,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $154.54, for a total value of $2,627,180.00. Following the completion of the sale, the chairman now directly owns 1,039,034 shares in the company, valued at $160,572,314.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,572 shares of company stock worth $23,715,597. 2.77% of the stock is owned by corporate 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.
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