Franklin Resources Inc. lifted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 36.9% during the 3rd quarter, Holdings Channel reports. The firm owned 579,567 shares of the company’s stock after buying an additional 156,222 shares during the quarter. Franklin Resources Inc.’s holdings in IDEXX Laboratories were worth $144,694,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new stake in shares of IDEXX Laboratories during the second quarter worth about $134,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of IDEXX Laboratories by 144.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock worth $154,000 after purchasing an additional 365 shares during the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of IDEXX Laboratories by 44.9% in the second quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock worth $146,000 after acquiring an additional 207 shares during the period. HMS Capital Management LLC acquired a new position in shares of IDEXX Laboratories in the third quarter worth approximately $205,000. Finally, Cedar Capital LLC acquired a new position in shares of IDEXX Laboratories in the third quarter worth approximately $215,000. Institutional investors own 91.14% of the company’s stock.
In other IDEXX Laboratories news, Director Rebecca M. Henderson sold 3,504 shares of the business’s stock in a transaction that occurred on 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 $4,327,224. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline Studer sold 3,313 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $201.27, for a total value of $666,807.51. 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 quarterly earnings data on Thursday, November 1st. The company reported $1.05 EPS for the quarter, topping 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 company had revenue of $545.00 million for the quarter, compared to analyst estimates of $545.66 million. During the same period in the previous year, the firm earned $0.76 earnings per share. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. Analysts predict that IDEXX Laboratories, Inc. will post 4.19 EPS for the current year.
A number of equities analysts recently commented on IDXX shares. Zacks Investment Research lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Credit Suisse Group lifted their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. Bank of America cut 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 cut their price objective on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $252.33.
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About IDEXX Laboratories
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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