Lyell Wealth Management LP bought a new stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 15,123 shares of the company’s stock, valued at approximately $4,164,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. boosted its stake in IDEXX Laboratories by 100.0% in the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the last quarter. Personal Wealth Partners bought a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $52,000. Monetary Management Group Inc. bought a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $45,000. Arrow Financial Corp bought a new stake in shares of IDEXX Laboratories in the second quarter valued at approximately $78,000. Finally, Anderson Fisher LLC bought a new stake in shares of IDEXX Laboratories in the first quarter valued at approximately $70,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.
Several analysts have recently issued reports on the stock. Bank of America set a $300.00 price target on shares of IDEXX Laboratories and gave the company a “buy” rating in a research report on Friday, June 21st. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target on the stock in a research report on Friday, May 3rd. Canaccord Genuity reissued a “buy” rating and issued a $285.00 price target on shares of IDEXX Laboratories in a research report on Friday, August 2nd. Guggenheim assumed coverage on shares of IDEXX Laboratories in a research report on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price target on the stock. Finally, Stifel Nicolaus boosted their price target on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Seven equities research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and an average target price of $281.00.
In related news, Chairman Jonathan W. Ayers sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $272.75, for a total transaction of $2,727,500.00. Following the sale, the chairman now owns 1,035,942 shares of the company’s stock, valued at approximately $282,553,180.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael Lane sold 17,961 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $264.10, for a total transaction of $4,743,500.10. The disclosure for this sale can be found here. Insiders have sold a total of 71,905 shares of company stock worth $18,968,126 in the last ninety days. 2.70% of the stock is currently owned by insiders.
Shares of NASDAQ IDXX traded down $9.81 during midday trading on Wednesday, hitting $271.10. The company’s stock had a trading volume of 15,022 shares, compared to its average volume of 462,560. The company’s fifty day simple moving average is $279.17. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 4.49. The stock has a market cap of $24.18 billion, a price-to-earnings ratio of 64.00 and a beta of 0.84. IDEXX Laboratories, Inc. has a one year low of $176.11 and a one year high of $292.17.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, August 1st. The company reported $1.43 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.06. The business had revenue of $620.10 million for the quarter, compared to analyst estimates of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. IDEXX Laboratories’s revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.23 EPS. As a group, analysts expect that IDEXX Laboratories, Inc. will post 4.86 EPS for the current year.
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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