National Pension Service boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,823 shares of the company’s stock after buying an additional 8,144 shares during the period. National Pension Service owned about 0.10% of IDEXX Laboratories worth $14,099,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Cutler Group LP purchased a new stake in IDEXX Laboratories during the first quarter valued at about $355,000. Gulf International Bank UK Ltd increased its stake in IDEXX Laboratories by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,750 shares of the company’s stock valued at $4,290,000 after buying an additional 400 shares in the last quarter. Exxonmobil Investment Management Inc. TX purchased a new stake in IDEXX Laboratories during the first quarter valued at about $3,022,000. Creative Planning increased its stake in IDEXX Laboratories by 27.9% in the first quarter. Creative Planning now owns 20,180 shares of the company’s stock valued at $3,120,000 after buying an additional 4,402 shares in the last quarter. Finally, Atlas Brown Inc. purchased a new stake in IDEXX Laboratories during the first quarter valued at about $225,000. 89.80% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDEXX Laboratories, Inc. (IDXX) traded up 1.30% during trading on Friday, hitting $153.02. The stock had a trading volume of 502,062 shares. The firm’s 50-day moving average is $162.05 and its 200-day moving average is $155.37. IDEXX Laboratories, Inc. has a one year low of $102.45 and a one year high of $173.01. The firm has a market cap of $13.35 billion, a P/E ratio of 52.64 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The business had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period last year, the business posted $0.74 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts forecast that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.
IDEXX Laboratories announced that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
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Several equities research analysts have weighed in on IDXX shares. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, June 12th. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Stifel Nicolaus upped their price objective on IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Finally, Aegis started coverage on IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price objective for the company. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. IDEXX Laboratories currently has an average rating of “Hold” and a consensus price target of $173.80.
In other IDEXX Laboratories news, Director Lawrence D. Kingsley bought 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The stock was acquired at an average price of $151.76 per share, with a total value of $303,520.00. Following the completion of the transaction, the director now owns 3,344 shares in the company, valued at $507,485.44. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Jonathan W. Ayers sold 17,000 shares of the firm’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $154.54, for a total transaction of $2,627,180.00. Following the completion of the transaction, the chairman now directly owns 1,039,034 shares of the company’s stock, valued at approximately $160,572,314.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,572 shares of company stock worth $8,844,817. 2.77% of the stock is currently owned by company insiders.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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