Twin Tree Management LP boosted its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,072.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,888 shares of the company’s stock after purchasing an additional 1,727 shares during the quarter. Twin Tree Management LP’s holdings in IDEXX Laboratories were worth $305,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. WMS Partners LLC increased its holdings in IDEXX Laboratories by 0.3% in the second quarter. WMS Partners LLC now owns 1,583 shares of the company’s stock worth $256,000 after purchasing an additional 4 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its holdings in IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after purchasing an additional 17 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in IDEXX Laboratories by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,547 shares of the company’s stock worth $1,057,000 after purchasing an additional 19 shares in the last quarter. CAPROCK Group Inc. increased its holdings in IDEXX Laboratories by 2.2% in the second quarter. CAPROCK Group Inc. now owns 1,830 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares in the last quarter. Finally, Strs Ohio increased its holdings in IDEXX Laboratories by 0.7% in the second quarter. Strs Ohio now owns 5,929 shares of the company’s stock worth $957,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
IDEXX Laboratories, Inc. (IDXX) opened at 157.50 on Friday. The company’s 50 day moving average price is $154.86 and its 200 day moving average price is $159.27. IDEXX Laboratories, Inc. has a 12 month low of $102.45 and a 12 month high of $173.01. The stock has a market cap of $13.75 billion, a PE ratio of 54.18 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The company had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. During the same quarter last year, the company earned $0.74 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. Equities analysts forecast that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
In other IDEXX Laboratories news, Director Lawrence D. Kingsley bought 2,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the purchase, the director now owns 3,344 shares in the company, valued at approximately $507,485.44. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $150.79, for a total value of $1,960,270.00. Following the sale, the chairman now owns 1,044,034 shares in the company, valued at $157,429,886.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 151,734 shares of company stock worth $23,436,626. Company insiders own 2.77% of the company’s stock.
A number of brokerages have weighed in on IDXX. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 target price for the company in a report on Wednesday, June 28th. Aegis initiated coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective for the company. They noted that the move was a valuation call. Bank of America Corporation raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a research note on Wednesday, August 23rd. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price objective on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $174.00.
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IDEXX Laboratories Company Profile
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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