Livforsakringsbolaget Skandia Omsesidigt reduced its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 52.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 800 shares of the company’s stock after selling 900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in IDEXX Laboratories were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently added to or reduced their stakes in IDXX. Fundsmith Equity Fund L.P. purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $965,278,000. Marshall Wace LLP purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $45,884,000. Ardevora Asset Management LLP purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $34,461,000. Worldquant Millennium Quantitative Strategies LLC purchased a new position in shares of IDEXX Laboratories in the second quarter valued at $31,288,000. Finally, Rathbone Brothers plc purchased a new position in shares of IDEXX Laboratories in the third quarter valued at $26,938,000. 91.11% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Jonathan W. Ayers sold 7,000 shares of the business’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jacqueline Studer sold 8,598 shares of the business’s stock in a transaction dated Monday, August 6th. The stock was 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. Over the last 90 days, insiders have sold 70,129 shares of company stock valued at $17,159,219. 2.56% of the stock is owned by company insiders.
Shares of NASDAQ IDXX opened at $204.91 on Friday. The firm has a market capitalization of $18.37 billion, a PE ratio of 55.82, a P/E/G ratio of 1.94 and a beta of 0.82. IDEXX Laboratories, Inc. has a fifty-two week low of $146.09 and a fifty-two week high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, November 1st. The company reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.08. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The business had revenue of $545.00 million during the quarter, compared to analysts’ expectations of $545.66 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. As a group, analysts anticipate that IDEXX Laboratories, Inc. will post 4.18 EPS for the current year.
Several equities analysts have recently weighed in on IDXX shares. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 1st. Stifel Nicolaus lifted their price target on IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, July 10th. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 9th. Piper Jaffray Companies lifted their price target on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a research report on Wednesday, August 1st. Finally, Credit Suisse Group lifted their price target on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $246.50.
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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