Birch Hill Investment Advisors LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,200 shares of the company’s stock after selling 100 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in IDEXX Laboratories were worth $598,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of IDXX. Vanguard Group Inc. grew its stake in IDEXX Laboratories by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 9,247,387 shares of the company’s stock valued at $2,546,084,000 after purchasing an additional 112,147 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in IDEXX Laboratories by 32.9% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock valued at $875,749,000 after purchasing an additional 787,736 shares in the last quarter. Invesco Ltd. grew its stake in IDEXX Laboratories by 28.2% during the 2nd quarter. Invesco Ltd. now owns 1,472,407 shares of the company’s stock valued at $405,398,000 after purchasing an additional 323,919 shares in the last quarter. Northern Trust Corp grew its stake in IDEXX Laboratories by 1.5% during the 2nd quarter. Northern Trust Corp now owns 1,079,474 shares of the company’s stock valued at $297,211,000 after purchasing an additional 16,299 shares in the last quarter. Finally, Marshall Wace North America L.P. grew its stake in IDEXX Laboratories by 72.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 698,227 shares of the company’s stock valued at $192,242,000 after purchasing an additional 294,186 shares in the last quarter. Institutional investors and hedge funds own 86.85% of the company’s stock.
A number of equities research analysts have weighed in on IDXX shares. Goldman Sachs Group started coverage on IDEXX Laboratories in a research note on Monday, September 9th. They set a “neutral” rating and a $277.00 price objective for the company. Credit Suisse Group raised their price objective on IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. BidaskClub upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, September 21st. Bank of America set a $300.00 price objective on IDEXX Laboratories and gave the company a “buy” rating in a research note on Friday, June 21st. Finally, Canaccord Genuity restated a “buy” rating and set a $285.00 price objective on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $285.29.
In related news, Chairman Jonathan W. Ayers sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $272.75, for a total value of $2,727,500.00. Following the sale, the chairman now owns 1,035,942 shares of the company’s stock, valued at approximately $282,553,180.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Giovani Twigge sold 2,300 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $274.44, for a total value 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 worth $19,402,442. 2.70% of the stock is currently owned by company insiders.
NASDAQ:IDXX traded up $2.58 during trading hours on Thursday, reaching $282.15. 30,831 shares of the stock were exchanged, compared to its average volume of 360,508. The company has a quick ratio of 0.83, a current ratio of 1.15 and a debt-to-equity ratio of 4.49. The firm has a 50 day simple moving average of $276.72 and a 200-day simple moving average of $263.20. IDEXX Laboratories, Inc. has a 52 week low of $176.11 and a 52 week high of $292.17. The stock has a market capitalization of $23.73 billion, a P/E ratio of 66.23 and a beta of 0.82.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Thursday, August 1st. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.06. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The company had revenue of $620.10 million for the quarter, compared to the consensus estimate of $627.10 million. During the same quarter last year, the business posted $1.23 EPS. IDEXX Laboratories’s quarterly revenue was up 6.8% compared to the same quarter last year. As a group, analysts expect that IDEXX Laboratories, Inc. will post 4.86 earnings per share for the current year.
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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