Parametric Portfolio Associates LLC grew its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,663 shares of the company’s stock after purchasing an additional 12,317 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.35% of IDEXX Laboratories worth $82,506,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. MUFG Securities EMEA plc raised its stake in IDEXX Laboratories by 198.6% during the second quarter. MUFG Securities EMEA plc now owns 58,170 shares of the company’s stock worth $16,016,000 after purchasing an additional 38,692 shares during the period. MML Investors Services LLC raised its stake in IDEXX Laboratories by 4.9% during the second quarter. MML Investors Services LLC now owns 1,959 shares of the company’s stock worth $539,000 after purchasing an additional 91 shares during the period. Toronto Dominion Bank raised its stake in IDEXX Laboratories by 4.3% during the second quarter. Toronto Dominion Bank now owns 62,587 shares of the company’s stock worth $17,144,000 after purchasing an additional 2,582 shares during the period. Impax Asset Management Group plc raised its stake in IDEXX Laboratories by 33.3% during the second quarter. Impax Asset Management Group plc now owns 1,840 shares of the company’s stock worth $507,000 after purchasing an additional 460 shares during the period. Finally, Ossiam purchased a new position in IDEXX Laboratories during the second quarter worth about $54,000. Institutional investors and hedge funds own 87.04% of the company’s stock.
IDXX has been the subject of a number of recent analyst reports. BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. Goldman Sachs Group initiated coverage on shares of IDEXX Laboratories in a research report on Monday. They set a “neutral” rating and a $277.00 price target for the company. Credit Suisse Group lifted their price target on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research report on Friday, August 16th. Stifel Nicolaus lifted their price target on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, Bank of America set a $300.00 price target on shares of IDEXX Laboratories and gave the company a “buy” rating in a research report on Friday, June 21st. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $285.29.
Shares of IDXX stock traded down $4.54 during trading on Friday, reaching $266.51. The company’s stock had a trading volume of 12,050 shares, compared to its average volume of 365,627. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.15 and a quick ratio of 0.83. The company has a market capitalization of $23.04 billion, a price-to-earnings ratio of 62.47 and a beta of 0.85. The stock’s 50-day moving average price is $279.08 and its 200 day moving average price is $252.99. IDEXX Laboratories, Inc. has a 1-year low of $176.11 and a 1-year high of $292.17.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The firm had revenue of $620.10 million during the quarter, compared to analysts’ expectations of $627.10 million. During the same quarter in the previous year, the business posted $1.23 earnings per share. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that IDEXX Laboratories, Inc. will post 4.86 EPS for the current fiscal year.
In other news, insider Giovani Twigge sold 2,300 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Rebecca M. Henderson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $271.17, for a total transaction of $1,084,680.00. Following the sale, the director now owns 14,696 shares of the company’s stock, valued at approximately $3,985,114.32. The disclosure for this sale can be found here. Insiders have sold a total of 73,305 shares of company stock valued at $19,402,442 in the last 90 days. 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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