Friedberg Investment Management decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 66.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,170 shares of the company’s stock after selling 17,930 shares during the quarter. IDEXX Laboratories comprises approximately 2.3% of Friedberg Investment Management’s investment portfolio, making the stock its 16th biggest holding. Friedberg Investment Management’s holdings in IDEXX Laboratories were worth $1,426,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in IDXX. D.A. Davidson & CO. lifted 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 buying an additional 385 shares in the last quarter. Sun Life Financial INC lifted its stake in IDEXX Laboratories by 9,085.7% in 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 in the last quarter. BB&T Investment Services Inc. bought a new position in IDEXX Laboratories in the second quarter valued at approximately $104,000. Capital Advisors Ltd. LLC bought a new position in IDEXX Laboratories in the second quarter valued at approximately $128,000. Finally, Coastline Trust Co bought a new position in IDEXX Laboratories in the second quarter valued at approximately $202,000. 86.80% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price target on the stock in a research note on Tuesday, October 24th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research report on Friday, October 6th. Finally, Bank of America raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a research report on Wednesday, August 23rd. 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’s stock. IDEXX Laboratories currently has an average rating of “Hold” and an average price target of $173.67.
In related news, insider Giovani Twigge sold 2,000 shares of the business’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $156.07, for a total transaction of $312,140.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jonathan W. Ayers sold 18,000 shares of the business’s stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $148.35, for a total transaction of $2,670,300.00. Following the transaction, the chief executive officer now owns 1,064,573 shares in the company, valued at $157,929,404.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,000 shares of company stock worth $16,686,200. 2.77% of the stock is owned by corporate insiders.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at $159.78 on Friday. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of -12.48. The company has a market cap of $13,960.00, a price-to-earnings ratio of 53.80, a PEG ratio of 2.42 and a beta of 0.42. IDEXX Laboratories, Inc. has a 1 year low of $113.92 and a 1 year high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.05. The business had revenue of $492.00 million for the quarter, compared to analyst estimates of $492.94 million. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.62 earnings per share. research analysts forecast that IDEXX Laboratories, Inc. will post 3.24 EPS for the current year.
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IDEXX Laboratories 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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