IDEXX Laboratories, Inc. $IDXX Stake Trimmed by Cornerstone Advisors LLC

Cornerstone Advisors LLC cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 24.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,336 shares of the company’s stock after selling 6,959 shares during the quarter. Cornerstone Advisors LLC’s holdings in IDEXX Laboratories were worth $11,141,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter worth approximately $628,223,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of IDEXX Laboratories by 4.6% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 911,489 shares of the company’s stock valued at $479,844,000 after purchasing an additional 39,700 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of IDEXX Laboratories by 52.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 838,839 shares of the company’s stock valued at $471,335,000 after purchasing an additional 288,471 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of IDEXX Laboratories by 4.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 573,332 shares of the company’s stock valued at $322,145,000 after purchasing an additional 23,582 shares during the period. Finally, Alyeska Investment Group L.P. boosted its holdings in IDEXX Laboratories by 97.3% during the second quarter. Alyeska Investment Group L.P. now owns 401,082 shares of the company’s stock worth $211,146,000 after buying an additional 197,808 shares in the last quarter. Hedge funds and other institutional investors own 87.84% of the company’s stock.

Insider Buying and Selling at IDEXX Laboratories

In other IDEXX Laboratories news, EVP Michael Lane sold 3,979 shares of the business’s stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $688.64, for a total transaction of $2,740,098.56. Following the transaction, the executive vice president owned 4,076 shares of the company’s stock, valued at approximately $2,806,896.64. The trade was a 49.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lawrence D. Kingsley sold 2,203 shares of the business’s stock in a transaction on Friday, September 4th. The stock was sold at an average price of $532.08, for a total value of $1,172,172.24. Following the transaction, the director directly owned 9,568 shares in the company, valued at $5,090,941.44. This trade represents a 18.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 41,428 shares of company stock worth $28,567,934. 0.79% of the stock is owned by company insiders.

IDEXX Laboratories Trading Up 0.9%

Shares of IDXX stock opened at $704.23 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $500.61 and a 1-year high of $769.98. The company has a market cap of $55.49 billion, a price-to-earnings ratio of 47.16 and a beta of 1.55. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.19 and a quick ratio of 0.88. The stock has a 50 day simple moving average of $562.41 and a 200-day simple moving average of $573.52.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Monday, November 2nd. The company reported $3.96 earnings per share for the quarter, topping the consensus estimate of $3.71 by $0.25. IDEXX Laboratories had a net margin of 25.36% and a return on equity of 71.04%. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter in the prior year, the firm earned $3.22 EPS. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. On average, equities research analysts expect that IDEXX Laboratories, Inc. will post 15.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IDXX. The Goldman Sachs Group initiated coverage on shares of IDEXX Laboratories in a report on Friday, October 16th. They issued a “buy” rating and a $740.00 price objective for the company. Morgan Stanley increased their target price on shares of IDEXX Laboratories from $805.00 to $810.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Citigroup increased their target price on shares of IDEXX Laboratories from $650.00 to $670.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 5th. Barclays dropped their target price on IDEXX Laboratories from $800.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Finally, UBS Group lifted their price target on IDEXX Laboratories from $627.00 to $700.00 and gave the company a “neutral” rating in a research note on Tuesday, November 3rd. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, IDEXX Laboratories presently has a consensus rating of “Moderate Buy” and an average target price of $717.27.

IDEXX Laboratories Company Profile

IDEXX Laboratories develops and sells diagnostic, technology and software products for veterinary, livestock and water-testing markets. Its veterinary offerings include in-clinic diagnostic instruments and tests, reference laboratory services, digital imaging and practice-management software that help veterinary professionals assess animal health and manage their practices. The company also provides diagnostic tests and related services for livestock and poultry, as well as products used to monitor water quality.