Financial Gravity Wealth Inc. acquired a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 913 shares of the company’s stock, valued at approximately $206,000.
Other hedge funds also recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in IDEXX Laboratories in the fourth quarter worth about $28,000. Sontag Advisory LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $79,000. Quantamental Technologies LLC acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $92,000. Ipswich Investment Management Co. Inc. acquired a new stake in IDEXX Laboratories in the 4th quarter valued at about $124,000. Finally, ETF Managers Group LLC lifted its holdings in IDEXX Laboratories by 15.8% in the 4th quarter. ETF Managers Group LLC now owns 682 shares of the company’s stock valued at $127,000 after acquiring an additional 93 shares during the last quarter. 88.24% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ IDXX opened at $218.49 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $176.11 and a twelve month high of $256.22. The stock has a market capitalization of $18.80 billion, a price-to-earnings ratio of 51.29 and a beta of 0.97.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Friday, February 1st. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.08. IDEXX Laboratories had a net margin of 17.03% and a negative return on equity of 1,501.97%. The company had revenue of $549.39 million during the quarter, compared to the consensus estimate of $546.04 million. During the same period in the prior year, the company earned $0.43 EPS. IDEXX Laboratories’s revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post 4.69 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on the stock. BidaskClub downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Canaccord Genuity cut their price target on shares of IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $246.67.
In related news, Director Lawrence D. Kingsley acquired 2,405 shares of the business’s stock in a transaction on Tuesday, February 5th. The shares were purchased at an average price of $208.68 per share, for a total transaction of $501,875.40. Following the acquisition, the director now owns 7,403 shares in the company, valued at $1,544,858.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jonathan W. Ayers sold 15,905 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was sold at an average price of $208.13, for a total value of $3,310,307.65. Following the sale, the chief executive officer now owns 1,047,226 shares in the company, valued at approximately $217,959,147.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,144 shares of company stock worth $8,378,892. Corporate insiders own 2.70% of the company’s stock.
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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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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