PNC Financial Services Group Inc. lifted its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.9% during the third quarter, HoldingsChannel.com reports. The firm owned 35,597 shares of the company’s stock after purchasing an additional 671 shares during the quarter. PNC Financial Services Group Inc.’s holdings in IDEXX Laboratories were worth $8,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also added to or reduced their stakes in IDXX. Valeo Financial Advisors LLC bought a new stake in IDEXX Laboratories in the 2nd quarter valued at about $134,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in IDEXX Laboratories by 144.3% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock valued at $154,000 after acquiring an additional 365 shares during the period. Rehmann Capital Advisory Group raised its stake in IDEXX Laboratories by 44.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock valued at $146,000 after acquiring an additional 207 shares during the period. HMS Capital Management LLC bought a new stake in IDEXX Laboratories in the 3rd quarter valued at about $205,000. Finally, Cedar Capital LLC bought a new stake in IDEXX Laboratories in the 3rd quarter valued at about $215,000. Institutional investors own 91.71% of the company’s stock.
In other news, VP Jacqueline Studer sold 3,313 shares of the business’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $201.27, for a total transaction of $666,807.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rebecca M. Henderson sold 3,504 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $194.92, for a total value of $682,999.68. Following the transaction, the director now directly owns 22,200 shares of the company’s stock, valued at approximately $4,327,224. The disclosure for this sale can be found here. 2.56% of the stock is currently owned by insiders.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.08. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. The business had revenue of $545.00 million during the quarter, compared to analyst estimates of $545.66 million. During the same quarter in the previous year, the firm earned $0.76 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts expect that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on IDXX. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Credit Suisse Group boosted their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. Bank of America lowered their price objective on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Finally, Canaccord Genuity reduced their target price on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating for the company in a report on Monday, November 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $252.33.
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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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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