Connable Office Inc. maintained its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, Holdings Channel reports. The firm owned 5,090 shares of the company’s stock at the end of the second quarter. Connable Office Inc.’s holdings in IDEXX Laboratories were worth $822,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of IDEXX Laboratories by 1,967.1% in the first quarter. BlackRock Inc. now owns 6,427,027 shares of the company’s stock valued at $993,680,000 after buying an additional 6,116,102 shares during the last quarter. Vanguard Group Inc. increased its position in shares of IDEXX Laboratories by 24.3% in the first quarter. Vanguard Group Inc. now owns 8,910,555 shares of the company’s stock valued at $1,377,660,000 after buying an additional 1,740,446 shares during the last quarter. State Street Corp increased its position in shares of IDEXX Laboratories by 38.6% in the first quarter. State Street Corp now owns 3,911,739 shares of the company’s stock valued at $604,793,000 after buying an additional 1,089,880 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of IDEXX Laboratories by 59.1% in the first quarter. Renaissance Technologies LLC now owns 975,600 shares of the company’s stock valued at $150,838,000 after buying an additional 362,400 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in IDEXX Laboratories by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 887,703 shares of the company’s stock worth $137,248,000 after buying an additional 349,344 shares in the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 154.51 on Thursday. The stock has a market capitalization of $13.48 billion, a P/E ratio of 53.15 and a beta of 0.49. The company has a 50 day moving average price of $162.50 and a 200-day moving average price of $155.40. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The company had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. During the same period in the previous year, the firm posted $0.74 EPS. IDEXX Laboratories’s revenue was up 9.1% compared to the same quarter last year. On average, analysts predict that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
IDEXX Laboratories announced that its board has initiated a stock buyback program on Wednesday, May 3rd that permits the company to repurchase 3,000,000 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.
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A number of equities research analysts recently commented on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research report on Tuesday, June 13th. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a research report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $173.80.
In related news, Director William T. End sold 5,000 shares of IDEXX Laboratories stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $162.55, for a total value of $812,750.00. Following the sale, the director now directly owns 45,256 shares in the company, valued at approximately $7,356,362.80. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $155.22, for a total value of $2,793,960.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,572 shares of company stock worth $6,217,637. 2.77% of the stock is currently owned by insiders.
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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