Ardevora Asset Management LLP decreased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 238,400 shares of the company’s stock after selling 21,000 shares during the period. IDEXX Laboratories comprises 1.2% of Ardevora Asset Management LLP’s investment portfolio, making the stock its 12th largest position. Ardevora Asset Management LLP owned 0.27% of IDEXX Laboratories worth $38,483,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of IDEXX Laboratories by 9.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 271,018 shares of the company’s stock worth $31,784,000 after buying an additional 24,068 shares during the period. Security Asset Management increased its position in shares of IDEXX Laboratories by 1.8% in the fourth quarter. Security Asset Management now owns 20,201 shares of the company’s stock worth $2,369,000 after buying an additional 351 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth $230,000. Ibex Wealth Advisors purchased a new position in shares of IDEXX Laboratories during the fourth quarter worth $2,238,000. Finally, UBS Asset Management Americas Inc. increased its position in shares of IDEXX Laboratories by 1.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 191,408 shares of the company’s stock worth $22,447,000 after buying an additional 3,571 shares in the last quarter. Institutional investors own 89.80% of the company’s stock.
IDEXX Laboratories, Inc. (IDXX) opened at 153.02 on Friday. The company’s 50-day moving average is $161.67 and its 200 day moving average is $155.62. The stock has a market capitalization of $13.35 billion, a PE ratio of 52.64 and a beta of 0.49. IDEXX Laboratories, Inc. has a 12-month low of $102.45 and a 12-month high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The business had revenue of $508.90 million during the quarter, compared to the consensus estimate of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.74 earnings per share. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
IDEXX Laboratories declared that its board has initiated a stock buyback plan on Wednesday, May 3rd that authorizes the company to buyback 3,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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A number of brokerages recently weighed in on IDXX. Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. CL King raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price target for the company in a research note on Friday, July 28th. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $186.00 price target for the company in a research note on Wednesday, July 19th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $173.80.
In other news, Chairman Jonathan W. Ayers sold 13,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total transaction of $2,181,660.00. Following the transaction, the chairman now owns 1,032,994 shares in the company, valued at $173,357,053.08. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence D. Kingsley acquired 2,000 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were bought at an average price of $151.76 per share, for a total transaction of $303,520.00. Following the acquisition, the director now owns 3,344 shares of the company’s stock, valued at $507,485.44. The disclosure for this purchase can be found here. Insiders sold 55,572 shares of company stock valued at $8,844,817 over the last quarter. 2.77% of the stock is currently owned by corporate 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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