US Bancorp DE Sells 2,365 Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX)

US Bancorp DE cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 13.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,298 shares of the company’s stock after selling 2,365 shares during the period. US Bancorp DE’s holdings in IDEXX Laboratories were worth $2,469,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of IDEXX Laboratories by 38.1% in the first quarter. Bank of Montreal Can now owns 354,959 shares of the company’s stock valued at $54,879,000 after buying an additional 97,959 shares during the last quarter. Highland Capital Management LLC purchased a new position in shares of IDEXX Laboratories during the first quarter valued at about $264,000. Cutler Group LP purchased a new position in shares of IDEXX Laboratories during the first quarter valued at about $355,000. National Pension Service boosted its position in shares of IDEXX Laboratories by 50,651.0% in the first quarter. National Pension Service now owns 79,679 shares of the company’s stock valued at $12,312,000 after buying an additional 79,522 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of 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 during the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 1.30% during mid-day trading on Friday, hitting $153.02. The stock had a trading volume of 502,062 shares. The firm has a market cap of $13.35 billion, a PE ratio of 52.64 and a beta of 0.49. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01. The firm has a 50 day moving average price of $161.67 and a 200 day moving average price of $155.62.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. The company had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. Equities analysts predict that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.

IDEXX Laboratories announced that its Board of Directors has authorized a share buyback program on Wednesday, May 3rd that allows the company to buyback 3,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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IDXX has been the topic of several research reports. BidaskClub cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 price objective on the stock in a research note on Tuesday, April 25th. Canaccord Genuity reissued a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research note on Friday, July 14th. 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 has an average rating of “Hold” and an average price target of $173.80.

In other IDEXX Laboratories news, Director William T. End sold 5,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $162.55, for a total value of $812,750.00. Following the completion of the transaction, the director now directly owns 45,256 shares in the company, valued at approximately $7,356,362.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total value of $2,181,660.00. Following the completion of the sale, the chairman now owns 1,032,994 shares of the company’s stock, valued at $173,357,053.08. The disclosure for this sale can be found here. Insiders sold a total of 55,572 shares of company stock valued at $8,844,817 over the last quarter. 2.77% of the stock is currently owned by insiders.

About IDEXX Laboratories

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.

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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