State Treasurer State of Michigan increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.4% in the 1st quarter, Holdings Channel reports. The firm owned 24,800 shares of the company’s stock after buying an additional 100 shares during the period. State Treasurer State of Michigan’s holdings in IDEXX Laboratories were worth $5,545,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in IDEXX Laboratories by 12.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,302 shares of the company’s stock worth $94,697,000 after purchasing an additional 41,716 shares in the last quarter. Morgan Stanley lifted its holdings in IDEXX Laboratories by 15.1% in the 3rd quarter. Morgan Stanley now owns 439,913 shares of the company’s stock worth $109,830,000 after purchasing an additional 57,828 shares in the last quarter. Vanguard Group Inc lifted its holdings in IDEXX Laboratories by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 8,918,451 shares of the company’s stock worth $2,226,581,000 after purchasing an additional 23,970 shares in the last quarter. DNB Asset Management AS lifted its holdings in IDEXX Laboratories by 9.9% in the 4th quarter. DNB Asset Management AS now owns 18,811 shares of the company’s stock worth $3,499,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Ipswich Investment Management Co. Inc. purchased a new position in IDEXX Laboratories in the 4th quarter worth approximately $124,000. 87.46% of the stock is owned by institutional investors and hedge funds.
In related news, Director Rebecca M. Henderson sold 8,790 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $241.57, for a total transaction of $2,123,400.30. Following the completion of the transaction, the director now owns 27,486 shares in the company, valued at approximately $6,639,793.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jacqueline Studer sold 11,600 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $208.46, for a total value of $2,418,136.00. Following the transaction, the vice president now owns 8,648 shares of the company’s stock, valued at approximately $1,802,762.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 65,457 shares of company stock valued at $15,530,423. 2.70% of the stock is owned by company insiders.
A number of analysts have issued reports on the company. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, May 7th. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price objective on the stock in a research note on Friday, May 3rd. Finally, Canaccord Genuity lifted their price objective on IDEXX Laboratories from $255.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $253.50.
NASDAQ IDXX opened at $246.18 on Thursday. The company has a market cap of $20.88 billion, a PE ratio of 57.79 and a beta of 0.97. The company has a debt-to-equity ratio of 14.81, a quick ratio of 0.74 and a current ratio of 1.01. IDEXX Laboratories, Inc. has a fifty-two week low of $176.11 and a fifty-two week high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.13. The firm had revenue of $576.06 million for the quarter, compared to the consensus estimate of $575.04 million. IDEXX Laboratories had a return on equity of 354,783.84% and a net margin of 17.33%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 4.82 earnings per share for the current year.
About IDEXX Laboratories
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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