Commonwealth Bank of Australia increased its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,576 shares of the company’s stock after purchasing an additional 255 shares during the quarter. Commonwealth Bank of Australia’s holdings in IDEXX Laboratories were worth $252,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its holdings in IDEXX Laboratories by 2.3% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after purchasing an additional 17 shares during the period. Capital Advisors Ltd. LLC bought a new position in IDEXX Laboratories in the 2nd quarter worth $128,000. Global X Management Co. LLC increased its stake in IDEXX Laboratories by 44.6% in the 1st quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after buying an additional 323 shares in the last quarter. IBM Retirement Fund increased its stake in IDEXX Laboratories by 29.0% in the 2nd quarter. IBM Retirement Fund now owns 1,278 shares of the company’s stock worth $206,000 after buying an additional 287 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in IDEXX Laboratories in the 1st quarter worth $200,000. 87.64% of the stock is currently owned by institutional investors.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 162.10 on Tuesday. The firm has a 50-day moving average price of $155.03 and a 200-day moving average price of $159.17. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01. The stock has a market cap of $14.15 billion, a price-to-earnings ratio of 55.76 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The business had revenue of $508.90 million during the quarter, compared to the consensus estimate of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.
A number of equities research analysts have issued reports on the company. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 price target for the company in a research note on Wednesday, June 28th. Aegis assumed coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price target for the company. They noted that the move was a valuation call. Bank of America Corporation upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Wednesday, August 23rd. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $174.00.
In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $154.91, for a total value of $2,788,380.00. Following the completion of the transaction, the chief executive officer now owns 1,043,034 shares in the company, valued at $161,576,396.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total transaction of $8,990,000.00. Following the completion of the transaction, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,734 shares of company stock valued at $23,436,626. Insiders own 2.77% of the company’s stock.
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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