Louisiana State Employees Retirement System trimmed its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,300 shares of the company’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in IDEXX Laboratories were worth $1,222,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Monetary Management Group Inc. bought a new stake in IDEXX Laboratories in the first quarter worth $45,000. Anderson Fisher LLC purchased a new position in shares of IDEXX Laboratories in the first quarter valued at about $70,000. Northwestern Mutual Wealth Management Co. increased its position in shares of IDEXX Laboratories by 37.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 361 shares of the company’s stock valued at $81,000 after acquiring an additional 99 shares during the period. Osborn Williams & Donohoe LLC purchased a new position in shares of IDEXX Laboratories in the first quarter valued at about $90,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of IDEXX Laboratories in the first quarter valued at about $92,000. 87.39% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Sophie V. Vandebroek sold 9,044 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $263.86, for a total transaction of $2,386,349.84. Following the completion of the transaction, the director now directly owns 12,116 shares of the company’s stock, valued at $3,196,927.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $631,212.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 71,905 shares of company stock valued at $18,968,126. Corporate 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, topping the Zacks’ consensus estimate of $1.37 by $0.06. The firm had revenue of $620.10 million during the quarter, compared to analysts’ expectations of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.23 earnings per share. As a group, equities analysts forecast that IDEXX Laboratories, Inc. will post 4.86 earnings per share for the current year.
Several brokerages recently issued reports on IDXX. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price target on the stock in a research report on Friday, May 3rd. Canaccord Genuity reiterated a “buy” rating and set a $285.00 price target on shares of IDEXX Laboratories in a research report on Friday, August 2nd. Stifel Nicolaus boosted their price objective on shares of IDEXX Laboratories from $255.00 to $295.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. 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 price objective on the stock. Finally, Bank of America set a $300.00 price objective on shares of IDEXX Laboratories and gave the stock a “buy” rating in a research note on Friday, June 21st. Seven analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and an average price target of $281.00.
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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