Paloma Partners Management Co lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,804 shares of the company’s stock after selling 2,493 shares during the quarter. Paloma Partners Management Co’s holdings in IDEXX Laboratories were worth $2,159,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in IDXX. Zions Bancorporation acquired a new position in shares of IDEXX Laboratories during the third quarter valued at $162,000. Benjamin F. Edwards & Company Inc. raised its position in IDEXX Laboratories by 1,000.0% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,100 shares of the company’s stock worth $172,000 after acquiring an additional 1,000 shares in the last quarter. SignalPoint Asset Management LLC acquired a new stake in IDEXX Laboratories during the 4th quarter worth about $200,000. Ledyard National Bank raised its holdings in IDEXX Laboratories by 58.9% during the 4th quarter. Ledyard National Bank now owns 1,295 shares of the company’s stock worth $203,000 after buying an additional 480 shares during the period. Finally, Unio Capital LLC acquired a new stake in IDEXX Laboratories during the 4th quarter worth about $203,000. 87.07% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on IDXX. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, March 7th. Canaccord Genuity reissued a “buy” rating and issued a $210.00 price target on shares of IDEXX Laboratories in a research note on Monday, January 29th. Piper Jaffray Companies boosted their target price on IDEXX Laboratories to $211.00 and gave the stock an “overweight” rating in a report on Thursday, February 1st. Aegis restated a “sell” rating on shares of IDEXX Laboratories in a research note on Friday, December 8th. Finally, Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “strong-buy” rating and set a $214.00 target price for the company in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have issued a strong buy rating to the company. IDEXX Laboratories currently has a consensus rating of “Buy” and a consensus price target of $194.00.
IDXX stock traded down $0.49 during trading hours on Wednesday, reaching $200.23. The company’s stock had a trading volume of 415,354 shares, compared to its average volume of 583,886. The firm has a market capitalization of $17,342.66, a price-to-earnings ratio of 68.11, a price-to-earnings-growth ratio of 2.44 and a beta of 0.58. The company has a quick ratio of 0.80, a current ratio of 0.97 and a debt-to-equity ratio of -11.26. IDEXX Laboratories, Inc. has a 1 year low of $146.09 and a 1 year high of $207.14.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.04. The company had revenue of $506.00 million for the quarter, compared to analyst estimates of $490.51 million. IDEXX Laboratories had a negative return on equity of 432.19% and a net margin of 13.36%. IDEXX Laboratories’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.58 earnings per share. sell-side analysts expect that IDEXX Laboratories, Inc. will post 4.11 EPS for the current year.
In related news, VP Brian P. Mckeon sold 6,602 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $181.36, for a total transaction of $1,197,338.72. Following the completion of the sale, the vice president now directly owns 47,040 shares of the company’s stock, valued at approximately $8,531,174.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel M. Junius sold 2,974 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $190.06, for a total value of $565,238.44. Following the sale, the director now directly owns 5,602 shares of the company’s stock, valued at $1,064,716.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 91,736 shares of company stock valued at $16,193,502. Corporate insiders own 2.77% of the company’s stock.
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IDEXX Laboratories 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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