Beck Mack & Oliver LLC decreased its stake in Idexx Laboratories Inc. (NASDAQ:IDXX) by 2.6% during the second quarter, Holdings Channel reports. The institutional investor owned 5,700 shares of the company’s stock after selling 150 shares during the period. Beck Mack & Oliver LLC’s holdings in Idexx Laboratories were worth $529,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in Idexx Laboratories by 242.6% in the first quarter. Renaissance Technologies LLC now owns 437,504 shares of the company’s stock valued at $34,265,000 after buying an additional 309,804 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Idexx Laboratories during the second quarter valued at about $22,338,000. Old Mutual Global Investors UK Ltd. raised its position in Idexx Laboratories by 270.4% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 270,088 shares of the company’s stock valued at $25,080,000 after buying an additional 197,177 shares in the last quarter. Smith Asset Management Group LP bought a new position in Idexx Laboratories during the second quarter valued at about $12,467,000. Finally, Goldman Sachs Group Inc. raised its position in Idexx Laboratories by 43.2% in the first quarter. Goldman Sachs Group Inc. now owns 391,756 shares of the company’s stock valued at $30,683,000 after buying an additional 118,115 shares in the last quarter. Hedge funds and other institutional investors own 91.51% of the company’s stock.
Idexx Laboratories Inc. (NASDAQ:IDXX) traded up 0.07% during trading on Monday, reaching $111.18. The company had a trading volume of 306,019 shares. Idexx Laboratories Inc. has a 12-month low of $63.48 and a 12-month high of $117.84. The firm’s 50 day moving average price is $112.22 and its 200 day moving average price is $96.50. The firm has a market capitalization of $9.96 billion, a PE ratio of 50.40 and a beta of 0.41.
Idexx Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.12. The business earned $467 million during the quarter, compared to the consensus estimate of $444.83 million. Idexx Laboratories had a negative return on equity of 414.67% and a net margin of 11.94%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. Analysts anticipate that Idexx Laboratories Inc. will post $2.36 earnings per share for the current year.
IDXX has been the subject of several recent analyst reports. Bank of America Corp. reiterated a “neutral” rating on shares of Idexx Laboratories in a research note on Thursday, September 29th. Zacks Investment Research upgraded Idexx Laboratories from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research note on Monday, July 25th. Stifel Nicolaus raised their target price on Idexx Laboratories from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 16th. Canaccord Genuity restated a “buy” rating on shares of Idexx Laboratories in a research note on Tuesday, August 2nd. Finally, Northcoast Research upgraded Idexx Laboratories from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Idexx Laboratories has an average rating of “Buy” and an average target price of $106.20.
In other news, Director Rebecca M. Henderson sold 9,924 shares of the company’s stock in a transaction on Thursday, August 25th. The stock was sold at an average price of $110.43, for a total transaction of $1,095,907.32. Following the completion of the sale, the director now directly owns 16,678 shares in the company, valued at approximately $1,841,751.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Jonathan W. Ayers sold 60,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $107.69, for a total value of $6,461,400.00. The disclosure for this sale can be found here. Insiders own 2.79% of the company’s stock.
About Idexx Laboratories
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