Bourne Lent Asset Management Inc. Cuts Holdings in IDEXX Laboratories, Inc. (IDXX)

Bourne Lent Asset Management Inc. cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 104,337 shares of the company’s stock after selling 1,410 shares during the quarter. IDEXX Laboratories makes up 12.4% of Bourne Lent Asset Management Inc.’s portfolio, making the stock its 3rd largest holding. Bourne Lent Asset Management Inc. owned about 0.12% of IDEXX Laboratories worth $26,049,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of IDXX. Valeo Financial Advisors LLC bought a new position in shares of IDEXX Laboratories in the second quarter valued at about $134,000. Rehmann Capital Advisory Group raised its holdings in shares of IDEXX Laboratories by 44.9% in the second quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock valued at $146,000 after buying an additional 207 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of IDEXX Laboratories in the second quarter valued at about $181,000. Winthrop Advisory Group LLC bought a new position in shares of IDEXX Laboratories in the second quarter valued at about $206,000. Finally, KCM Investment Advisors LLC bought a new position in shares of IDEXX Laboratories in the second quarter valued at about $210,000. 91.02% of the stock is owned by institutional investors.

Several analysts have weighed in on IDXX shares. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 11th. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Stifel Nicolaus boosted their price objective on IDEXX Laboratories from $225.00 to $260.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. Credit Suisse Group boosted their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a report on Friday, August 17th. Finally, Piper Jaffray Companies boosted their price objective on IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $244.00.

In other news, CEO Jonathan W. Ayers sold 7,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $243.20, for a total transaction of $1,702,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bruce L. Claflin bought 415 shares of the firm’s stock in a transaction dated Friday, August 3rd. The shares were bought at an average price of $242.12 per share, with a total value of $100,479.80. Following the completion of the transaction, the director now directly owns 1,415 shares in the company, valued at approximately $342,599.80. The disclosure for this purchase can be found here. Insiders have sold a total of 70,129 shares of company stock valued at $17,159,219 over the last three months. Company insiders own 2.56% of the company’s stock.

NASDAQ:IDXX traded down $5.93 on Friday, hitting $218.40. 484,900 shares of the stock were exchanged, compared to its average volume of 488,569. The stock has a market capitalization of $19.79 billion, a P/E ratio of 68.77, a P/E/G ratio of 2.09 and a beta of 0.64. IDEXX Laboratories, Inc. has a 52 week low of $146.09 and a 52 week high of $256.22. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of -14.77.

IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The firm had revenue of $580.75 million during the quarter, compared to analysts’ expectations of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. As a group, equities analysts predict that IDEXX Laboratories, Inc. will post 4.18 EPS for the current year.

IDEXX Laboratories Company 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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

Further Reading: Tariff

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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