Elkfork Partners LLC lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 39.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,926 shares of the company’s stock after selling 1,914 shares during the quarter. Elkfork Partners LLC’s holdings in IDEXX Laboratories were worth $806,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new stake in IDEXX Laboratories in the second quarter valued at about $28,000. Cornerstone Advisors Inc. lifted its position in shares of IDEXX Laboratories by 100.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock valued at $39,000 after acquiring an additional 70 shares during the period. Monetary Management Group Inc. acquired a new stake in shares of IDEXX Laboratories during the 1st quarter valued at approximately $45,000. Personal Wealth Partners acquired a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at approximately $52,000. Finally, Next Capital Management LLC lifted its position in shares of IDEXX Laboratories by 81.9% during the 2nd quarter. Next Capital Management LLC now owns 191 shares of the company’s stock valued at $53,000 after acquiring an additional 86 shares during the period. 86.69% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDEXX Laboratories stock opened at $272.48 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $176.11 and a twelve month high of $292.17. The company has a current ratio of 1.15, a quick ratio of 0.83 and a debt-to-equity ratio of 4.49. The stock has a market cap of $23.66 billion, a price-to-earnings ratio of 59.35 and a beta of 0.85. The company has a fifty day moving average price of $277.49 and a 200 day moving average price of $257.62.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Thursday, August 1st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $620.10 million for the quarter, compared to analyst estimates of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.23 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post 4.86 earnings per share for the current year.
Several brokerages recently issued reports on IDXX. BidaskClub upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research report on Saturday, September 21st. Stifel Nicolaus lifted their target price on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Goldman Sachs Group began coverage on shares of IDEXX Laboratories in a research note on Monday, September 9th. They issued a “neutral” rating and a $277.00 target price for the company. Bank of America set a $300.00 target price on shares of IDEXX Laboratories and gave the stock a “buy” rating in a research note on Friday, June 21st. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $285.00 target price on shares of IDEXX Laboratories in a research note on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. IDEXX Laboratories presently has an average rating of “Buy” and an average price target of $285.29.
In other news, Chairman Jonathan W. Ayers sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $262.26, for a total value of $5,245,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Giovani Twigge sold 2,300 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $274.44, for a total transaction of $631,212.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,305 shares of company stock valued at $19,402,442. Insiders own 2.70% of the company’s stock.
IDEXX Laboratories Profile
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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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