State Board of Administration of Florida Retirement System cut its holdings in Idexx Laboratories (NASDAQ:IDXX) by 3.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,786 shares of the company’s stock after selling 4,705 shares during the period. State Board of Administration of Florida Retirement System owned 0.14% of Idexx Laboratories worth $23,883,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Prudential Financial Inc. raised its position in Idexx Laboratories by 47.1% in the first quarter. Prudential Financial Inc. now owns 376,522 shares of the company’s stock worth $72,062,000 after acquiring an additional 120,590 shares during the period. Victory Capital Management Inc. raised its position in Idexx Laboratories by 26.6% in the first quarter. Victory Capital Management Inc. now owns 14,556 shares of the company’s stock worth $2,786,000 after acquiring an additional 3,056 shares during the period. W. E. Donoghue & Co. LLC bought a new position in Idexx Laboratories in the first quarter worth approximately $2,462,000. Mackay Shields LLC bought a new position in Idexx Laboratories in the first quarter worth approximately $2,810,000. Finally, Zeke Capital Advisors LLC bought a new position in Idexx Laboratories in the first quarter worth approximately $271,000. Institutional investors and hedge funds own 87.72% of the company’s stock.
In related news, Director William T. End sold 4,000 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $184.48, for a total transaction of $737,920.00. Following the completion of the transaction, the director now directly owns 41,256 shares of the company’s stock, valued at $7,610,906.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William T. End sold 9,470 shares of the firm’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $208.36, for a total transaction of $1,973,169.20. Following the transaction, the director now directly owns 31,786 shares of the company’s stock, valued at $6,622,930.96. The disclosure for this sale can be found here. Insiders have sold 16,444 shares of company stock valued at $3,276,328 over the last ninety days. 2.56% of the stock is currently owned by corporate insiders.
Several research analysts have weighed in on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $210.00 price target on shares of Idexx Laboratories in a research report on Monday, January 29th. Piper Jaffray assumed coverage on shares of Idexx Laboratories in a research note on Tuesday, January 16th. They issued an “overweight” rating and a $200.00 price objective for the company. BidaskClub raised shares of Idexx Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Bank of America increased their price objective on shares of Idexx Laboratories from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 2nd. Finally, ValuEngine raised shares of Idexx Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $201.43.
Shares of Idexx Laboratories opened at $211.38 on Monday, according to MarketBeat. The company has a debt-to-equity ratio of -12.43, a current ratio of 0.96 and a quick ratio of 0.72. The firm has a market capitalization of $18.36 billion, a PE ratio of 60.05, a PEG ratio of 2.51 and a beta of 0.60. Idexx Laboratories has a 1 year low of $146.09 and a 1 year high of $217.89.
Idexx Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Friday, May 4th. The company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.09. The firm had revenue of $537.60 million during the quarter, compared to analysts’ expectations of $525.14 million. Idexx Laboratories had a net margin of 13.87% and a negative return on equity of 530.24%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 earnings per share. research analysts predict that Idexx Laboratories will post 4.16 earnings per share for the current fiscal year.
About Idexx Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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