Janney Montgomery Scott LLC increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 47.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,513 shares of the company’s stock after acquiring an additional 2,107 shares during the period. Janney Montgomery Scott LLC’s holdings in IDEXX Laboratories were worth $2,150,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Clarius Group LLC boosted its position in IDEXX Laboratories by 4.1% during the second quarter. Clarius Group LLC now owns 986 shares of the company’s stock valued at $326,000 after buying an additional 39 shares during the period. Allred Capital Management LLC boosted its position in IDEXX Laboratories by 13.3% during the first quarter. Allred Capital Management LLC now owns 340 shares of the company’s stock valued at $82,000 after buying an additional 40 shares during the period. Citizens Financial Group Inc RI boosted its position in IDEXX Laboratories by 13.6% during the first quarter. Citizens Financial Group Inc RI now owns 342 shares of the company’s stock valued at $83,000 after buying an additional 41 shares during the period. Colony Group LLC boosted its position in IDEXX Laboratories by 2.1% during the first quarter. Colony Group LLC now owns 1,949 shares of the company’s stock valued at $472,000 after buying an additional 41 shares during the period. Finally, First Horizon Advisors Inc. boosted its position in IDEXX Laboratories by 11.2% during the first quarter. First Horizon Advisors Inc. now owns 416 shares of the company’s stock valued at $100,000 after buying an additional 42 shares during the period. Institutional investors and hedge funds own 88.58% of the company’s stock.
In other news, Director Jonathan W. Ayers sold 13,600 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, May 6th. The shares were sold at an average price of $286.07, for a total transaction of $3,890,552.00. Following the completion of the transaction, the director now directly owns 810,467 shares in the company, valued at $231,850,294.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director M Anne Szostak sold 7,722 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $306.91, for a total transaction of $2,369,959.02. Following the transaction, the director now owns 7,722 shares of the company’s stock, valued at $2,369,959.02. The disclosure for this sale can be found here. Insiders sold 106,182 shares of company stock valued at $31,409,008 over the last 90 days. 2.53% of the stock is currently owned by company insiders.
IDXX has been the subject of several analyst reports. TheStreet upgraded shares of IDEXX Laboratories from a “c+” rating to a “b-” rating in a research report on Thursday, April 30th. Stifel Nicolaus raised their target price on IDEXX Laboratories from $280.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 6th. Finally, Bank of America raised their target price on IDEXX Laboratories from $300.00 to $390.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. IDEXX Laboratories presently has a consensus rating of “Buy” and an average target price of $317.14.
NASDAQ IDXX opened at $397.75 on Friday. The company has a debt-to-equity ratio of 7.06, a current ratio of 0.85 and a quick ratio of 0.60. IDEXX Laboratories, Inc. has a 1 year low of $168.65 and a 1 year high of $407.86. The business’s 50-day moving average is $335.38 and its 200 day moving average is $286.60. The stock has a market capitalization of $33.78 billion, a PE ratio of 79.55, a PEG ratio of 5.75 and a beta of 0.81.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Friday, July 31st. The company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.55. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 264.71%. The business had revenue of $637.20 million during the quarter, compared to analyst estimates of $589.98 million. During the same period last year, the business posted $1.43 earnings per share. IDEXX Laboratories’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, equities research analysts anticipate that IDEXX Laboratories, Inc. will post 4.98 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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