Evercore Wealth Management LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,679 shares of the company’s stock after selling 1,024 shares during the quarter. Evercore Wealth Management LLC owned approximately 0.06% of IDEXX Laboratories worth $13,402,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Altshuler Shaham Ltd acquired a new position in IDEXX Laboratories during the second quarter worth approximately $28,000. Cornerstone Advisors Inc. increased its position in IDEXX Laboratories by 100.0% during the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock worth $39,000 after buying an additional 70 shares during the last quarter. Captrust Financial Advisors increased its position in IDEXX Laboratories by 32.5% during the second quarter. Captrust Financial Advisors now owns 151 shares of the company’s stock worth $42,000 after buying an additional 37 shares during the last quarter. Monetary Management Group Inc. acquired a new position in IDEXX Laboratories during the first quarter worth approximately $45,000. Finally, Personal Wealth Partners acquired a new position in IDEXX Laboratories during the second quarter worth approximately $52,000. 87.04% of the stock is currently owned by institutional investors and hedge funds.
In other news, Chairman Jonathan W. Ayers sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $262.26, for a total value of $5,245,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Giovani Twigge sold 2,300 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $274.44, for a total value of $631,212.00. The disclosure for this sale can be found here. Insiders sold 73,305 shares of company stock worth $19,402,442 in the last ninety days. 2.70% of the stock is owned by company insiders.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, August 1st. The company reported $1.43 EPS for the quarter, beating the consensus estimate of $1.37 by $0.06. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The company had revenue of $620.10 million for the quarter, compared to the consensus estimate of $627.10 million. During the same quarter in the prior year, the business earned $1.23 earnings per share. The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, research analysts anticipate that IDEXX Laboratories, Inc. will post 4.86 EPS for the current fiscal year.
A number of brokerages have weighed in on IDXX. Canaccord Genuity reissued a “buy” rating and set a $285.00 price target on shares of IDEXX Laboratories in a research report on Friday, August 2nd. Credit Suisse Group boosted their price target on IDEXX Laboratories from $282.00 to $293.00 and gave the stock an “outperform” rating in a research report on Friday, August 16th. Stifel Nicolaus boosted their price target on IDEXX Laboratories from $255.00 to $295.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Guggenheim began coverage on IDEXX Laboratories in a research report on Thursday, May 23rd. They set a “buy” rating and a $276.00 price target on the stock. Finally, BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 10th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price 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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