FCG Advisors LLC trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,573 shares of the company’s stock after selling 227 shares during the quarter. FCG Advisors LLC’s holdings in IDEXX Laboratories were worth $415,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of IDXX. Janney Montgomery Scott LLC lifted its position in shares of IDEXX Laboratories by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 3,130 shares of the company’s stock worth $484,000 after purchasing an additional 87 shares in the last quarter. Shell Asset Management Co. lifted its position in shares of IDEXX Laboratories by 3.4% in the first quarter. Shell Asset Management Co. now owns 5,088 shares of the company’s stock worth $787,000 after purchasing an additional 165 shares in the last quarter. Strs Ohio raised its position in IDEXX Laboratories by 9.5% during the first quarter. Strs Ohio now owns 5,888 shares of the company’s stock valued at $910,000 after acquiring an additional 512 shares in the last quarter. Kornitzer Capital Management Inc. KS bought a new position in IDEXX Laboratories during the first quarter valued at approximately $209,000. Finally, Eqis Capital Management Inc. bought a new position in IDEXX Laboratories during the first quarter valued at approximately $313,000. 87.64% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on IDXX. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 price objective on the stock in a research report on Wednesday, June 28th. Aegis initiated coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Bank of America Corporation raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a research report on Wednesday, August 23rd. BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $185.00 price objective on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $174.00.
In other news, Chairman Jonathan W. Ayers sold 58,000 shares of the stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total value of $8,990,000.00. Following the completion of the transaction, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $150.79, for a total value of $1,960,270.00. Following the completion of the transaction, the chairman now directly owns 1,044,034 shares of the company’s stock, valued at approximately $157,429,886.86. The disclosure for this sale can be found here. Insiders have sold a total of 151,734 shares of company stock valued at $23,436,626 in the last ninety days. 2.77% of the stock is currently owned by corporate insiders.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 157.50 on Friday. The stock has a 50 day moving average of $154.86 and a 200 day moving average of $159.27. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01. The firm has a market cap of $13.75 billion, a P/E ratio of 54.18 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. The business had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. IDEXX Laboratories’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.74 EPS. Analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
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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