Point72 Asset Management L.P. bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 153,100 shares of the company’s stock, valued at approximately $23,806,000. Point72 Asset Management L.P. owned 0.18% of IDEXX Laboratories at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in IDXX. D.A. Davidson & CO. boosted its stake in shares of IDEXX Laboratories by 160.4% during the 2nd quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock worth $100,000 after buying an additional 385 shares during the last quarter. Sun Life Financial INC boosted its stake in shares of IDEXX Laboratories by 9,085.7% during the 2nd quarter. Sun Life Financial INC now owns 643 shares of the company’s stock worth $104,000 after buying an additional 636 shares during the last quarter. BB&T Investment Services Inc. acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth about $104,000. Zions Bancorporation acquired a new position in shares of IDEXX Laboratories during the 3rd quarter worth about $162,000. Finally, Coastline Trust Co acquired a new position in shares of IDEXX Laboratories during the 2nd quarter worth about $202,000. 86.80% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Jonathan W. Ayers sold 54,000 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $151.32, for a total value of $8,171,280.00. Following the completion of the sale, the chairman now directly owns 1,064,573 shares in the company, valued at approximately $161,091,186.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jonathan W. Ayers sold 18,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $153.75, for a total transaction of $2,767,500.00. Following the completion of the sale, the chief executive officer now owns 1,064,573 shares of the company’s stock, valued at $163,678,098.75. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $16,686,200 over the last quarter. 2.77% of the stock is currently owned by company insiders.
A number of research firms have recently commented on IDXX. Aegis restated a “sell” rating on shares of IDEXX Laboratories in a research note on Friday, December 8th. Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 21st. Bank of America upgraded shares of 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. Canaccord Genuity restated a “buy” rating and set a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, August 22nd. Finally, Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. IDEXX Laboratories presently has an average rating of “Hold” and an average price target of $173.67.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at $158.20 on Thursday. IDEXX Laboratories, Inc. has a one year low of $113.92 and a one year high of $173.01. The stock has a market cap of $13,891.32, a PE ratio of 53.63, a P/E/G ratio of 2.41 and a beta of 0.42. The company has a quick ratio of 0.77, a current ratio of 0.95 and a debt-to-equity ratio of -12.48.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The business had revenue of $492.00 million during the quarter, compared to the consensus estimate of $492.94 million. During the same period last year, the business posted $0.62 EPS. IDEXX Laboratories’s revenue was up 9.7% on a year-over-year basis. equities analysts predict that IDEXX Laboratories, Inc. will post 3.24 earnings per share for the current fiscal year.
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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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