IDEXX Laboratories, Inc. (NASDAQ:IDXX) Chairman Jonathan W. Ayers sold 18,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $155.22, for a total value of $2,793,960.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
IDEXX Laboratories, Inc. (IDXX) opened at 153.02 on Friday. The company has a market capitalization of $13.35 billion, a price-to-earnings 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. The stock’s 50 day moving average price is $161.67 and its 200 day moving average price is $155.62.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 firm had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate 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 program on Wednesday, May 3rd that allows the company to repurchase 3,000,000 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
A number of hedge funds and other institutional investors have recently bought and sold shares of IDXX. 1st Global Advisors Inc. raised its position in IDEXX Laboratories by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 7,548 shares of the company’s stock valued at $1,167,000 after buying an additional 88 shares during the period. Sei Investments Co. raised its position in IDEXX Laboratories by 76.6% in the first quarter. Sei Investments Co. now owns 20,277 shares of the company’s stock valued at $3,135,000 after buying an additional 8,792 shares during the period. AXA raised its position in IDEXX Laboratories by 52.0% in the first quarter. AXA now owns 346,593 shares of the company’s stock valued at $53,587,000 after buying an additional 118,643 shares during the period. Cutler Group LP raised its position in IDEXX Laboratories by 65.2% in the second quarter. Cutler Group LP now owns 3,800 shares of the company’s stock valued at $613,000 after buying an additional 1,500 shares during the period. Finally, Stephens Investment Management Group LLC raised its position in IDEXX Laboratories by 0.3% in the first quarter. Stephens Investment Management Group LLC now owns 282,580 shares of the company’s stock valued at $43,690,000 after buying an additional 751 shares during the period. 89.80% of the stock is owned by hedge funds and other institutional investors.
IDXX has been the topic of several recent analyst reports. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 price target on the stock in a research note on Tuesday, April 25th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price target (up previously from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, May 1st. Aegis initiated coverage on IDEXX Laboratories in a report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective for the company. They noted that the move was a valuation call. Finally, BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $173.80.
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.
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