CAPROCK Group Inc. trimmed its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 46.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 929 shares of the company’s stock after selling 820 shares during the period. CAPROCK Group Inc.’s holdings in IDEXX Laboratories were worth $232,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Fundsmith Equity Fund L.P. bought a new stake in shares of IDEXX Laboratories during the 2nd quarter worth $965,278,000. Renaissance Technologies LLC increased its holdings in IDEXX Laboratories by 3.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,169,929 shares of the company’s stock worth $472,914,000 after acquiring an additional 81,025 shares during the last quarter. Northern Trust Corp increased its holdings in IDEXX Laboratories by 2.7% in the 2nd quarter. Northern Trust Corp now owns 1,033,997 shares of the company’s stock worth $225,350,000 after acquiring an additional 27,422 shares during the last quarter. CIBC Private Wealth Group LLC increased its holdings in IDEXX Laboratories by 24.9% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 518,101 shares of the company’s stock worth $112,915,000 after acquiring an additional 103,186 shares during the last quarter. Finally, Morgan Stanley increased its holdings in IDEXX Laboratories by 9.5% in the 2nd quarter. Morgan Stanley now owns 382,085 shares of the company’s stock worth $83,271,000 after acquiring an additional 33,000 shares during the last quarter. Institutional investors own 91.22% of the company’s stock.
Shares of IDXX opened at $224.33 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $146.09 and a fifty-two week high of $256.22. The stock has a market capitalization of $21.62 billion, a P/E ratio of 68.50, a PEG ratio of 2.28 and a beta of 0.64. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of -14.77.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.06. The business had revenue of $580.75 million during the quarter, compared to analyst estimates of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. Sell-side analysts expect that IDEXX Laboratories, Inc. will post 4.18 earnings per share for the current year.
IDXX has been the subject of several recent research reports. Credit Suisse Group lifted their price objective on IDEXX Laboratories from $228.00 to $231.00 and gave the stock an “outperform” rating in a report on Thursday, June 21st. Zacks Investment Research lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Stifel Nicolaus lifted their price objective on IDEXX Laboratories from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Finally, Piper Jaffray Companies lifted their price objective on IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. IDEXX Laboratories presently has a consensus rating of “Buy” and a consensus price target of $244.00.
In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 7,000 shares of IDEXX Laboratories stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $247.33, for a total transaction of $1,731,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jacqueline Studer sold 8,598 shares of IDEXX Laboratories stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $242.37, for a total value of $2,083,897.26. The disclosure for this sale can be found here. Insiders have sold a total of 70,129 shares of company stock valued at $17,159,219 in the last ninety days. Insiders own 2.56% of the company’s stock.
IDEXX Laboratories Profile
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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