DF Dent & Co. Inc. raised its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.0% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 122,964 shares of the company’s stock after buying an additional 5 shares during the period. DF Dent & Co. Inc. owned approximately 0.14% of IDEXX Laboratories worth $19,011,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in IDXX. 1st Global Advisors Inc. raised its position in shares of 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 in the last quarter. Sei Investments Co. increased its stake in shares of 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 in the last quarter. Atlas Brown Inc. bought a new stake in shares of IDEXX Laboratories during the first quarter valued at $225,000. AXA increased its stake in shares of 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 in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 88.98% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (IDXX) traded down 0.272% during mid-day trading on Tuesday, hitting $165.579. The stock had a trading volume of 171,037 shares. The stock has a market cap of $14.59 billion, a price-to-earnings ratio of 61.348 and a beta of 0.48. IDEXX Laboratories, Inc. has a 12-month low of $92.52 and a 12-month high of $173.01. The firm’s 50-day moving average price is $165.02 and its 200 day moving average price is $146.99.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.16. IDEXX Laboratories had a negative return on equity of 706.91% and a net margin of 13.47%. The business had revenue of $462 million for the quarter, compared to analyst estimates of $455.10 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post $3.05 EPS for the current fiscal year.
IDEXX Laboratories announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 3rd that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
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A number of research analysts have recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research report on Friday. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Finally, Aegis started coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. IDEXX Laboratories presently has a consensus rating of “Hold” and a consensus price target of $166.25.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 27,000 shares of the company’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $162.69, for a total transaction of $4,392,630.00. Following the completion of the sale, the chairman now directly owns 1,024,994 shares in the company, valued at $166,756,273.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total value of $2,181,660.00. Following the completion of the sale, the chairman now owns 1,032,994 shares of the company’s stock, valued at $173,357,053.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,272 shares of company stock worth $12,264,082. Corporate insiders own 2.77% of the company’s stock.
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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