Tocqueville Asset Management L.P. raised its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 29.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,772 shares of the company’s stock after purchasing an additional 1,297 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in IDEXX Laboratories were worth $1,441,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of IDXX. Highbridge Capital Management LLC lifted its holdings in IDEXX Laboratories by 1,033.3% during the third quarter. Highbridge Capital Management LLC now owns 17,000 shares of the company’s stock worth $4,244,000 after acquiring an additional 15,500 shares in the last quarter. AlphaStar Capital Management LLC bought a new position in IDEXX Laboratories during the third quarter worth about $202,000. Maryland Capital Management bought a new position in IDEXX Laboratories during the third quarter worth about $225,000. Kepos Capital LP lifted its holdings in IDEXX Laboratories by 5.0% during the third quarter. Kepos Capital LP now owns 17,808 shares of the company’s stock worth $4,446,000 after acquiring an additional 851 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in IDEXX Laboratories by 567.0% during the third quarter. Kornitzer Capital Management Inc. KS now owns 132,836 shares of the company’s stock worth $33,164,000 after acquiring an additional 112,920 shares in the last quarter. Hedge funds and other institutional investors own 90.96% of the company’s stock.
Several research analysts have weighed in on IDXX shares. BidaskClub upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Canaccord Genuity reduced their target price on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Bank of America reduced their target price on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Credit Suisse Group lifted their target price on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a report on Friday, August 17th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $252.33.
In other news, VP Jacqueline Studer sold 3,313 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $201.27, for a total value of $666,807.51. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Rebecca M. Henderson sold 3,504 shares of the business’s stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $194.92, for a total value of $682,999.68. Following the completion of the sale, the director now owns 22,200 shares in the company, valued at $4,327,224. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.
Shares of IDEXX Laboratories stock opened at $198.30 on Tuesday. The stock has a market capitalization of $16.39 billion, a PE ratio of 60.46, a PEG ratio of 2.41 and a beta of 0.84. IDEXX Laboratories, Inc. has a one year low of $154.88 and a one year high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $1.05 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.08. The company had revenue of $545.00 million for the quarter, compared to analyst estimates of $545.66 million. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 earnings per share. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 4.19 EPS for the current year.
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IDEXX Laboratories Company 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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