Man Group plc decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 411,622 shares of the company’s stock after selling 75,175 shares during the period. Man Group plc owned 0.48% of IDEXX Laboratories worth $113,333,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Bank & Trust Co raised its stake in IDEXX Laboratories by 413.7% during the 2nd quarter. Capital Bank & Trust Co now owns 714 shares of the company’s stock worth $197,000 after acquiring an additional 575 shares during the period. Baker Avenue Asset Management LP raised its stake in IDEXX Laboratories by 1.9% during the 2nd quarter. Baker Avenue Asset Management LP now owns 5,808 shares of the company’s stock worth $1,599,000 after acquiring an additional 108 shares during the period. Marshall Wace North America L.P. raised its stake in IDEXX Laboratories by 72.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 698,227 shares of the company’s stock worth $192,242,000 after acquiring an additional 294,186 shares during the period. Assetmark Inc. raised its stake in IDEXX Laboratories by 2.2% during the 2nd quarter. Assetmark Inc. now owns 60,833 shares of the company’s stock worth $16,749,000 after acquiring an additional 1,282 shares during the period. Finally, Algert Global LLC raised its stake in IDEXX Laboratories by 102.5% during the 2nd quarter. Algert Global LLC now owns 9,434 shares of the company’s stock worth $2,597,000 after acquiring an additional 4,776 shares during the period. Institutional investors own 86.69% of the company’s stock.
In related news, insider Giovani Twigge sold 2,300 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $274.44, for a total value of $631,212.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Rebecca M. Henderson sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $271.17, for a total transaction of $1,084,680.00. Following the completion of the transaction, the director now directly owns 14,696 shares of the company’s stock, valued at $3,985,114.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 73,305 shares of company stock valued at $19,402,442. Insiders own 2.70% of the company’s stock.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) 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 business had revenue of $620.10 million during the quarter, compared to analyst estimates of $627.10 million. During the same period last year, the firm posted $1.23 EPS. The company’s revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts expect that IDEXX Laboratories, Inc. will post 4.86 earnings per share for the current fiscal year.
A number of equities research analysts have commented on the stock. Canaccord Genuity restated a “buy” rating and set a $285.00 target price on shares of IDEXX Laboratories in a research note on Friday, August 2nd. Credit Suisse Group raised their target price on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the stock an “outperform” rating in a research note on Friday, August 16th. Bank of America set a $300.00 target price on shares of IDEXX Laboratories and gave the stock a “buy” rating in a research note on Friday, June 21st. Guggenheim assumed coverage on shares of IDEXX Laboratories in a research note on Thursday, May 23rd. They set a “buy” rating and a $276.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on shares of IDEXX Laboratories in a report on Monday, September 9th. They set a “neutral” rating and a $277.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. IDEXX Laboratories currently has a consensus rating of “Buy” and an average price target of $285.29.
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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