SG Americas Securities LLC lifted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 94.8% during the second quarter, Holdings Channel reports. The fund owned 21,156 shares of the company’s stock after purchasing an additional 10,296 shares during the quarter. SG Americas Securities LLC’s holdings in IDEXX Laboratories were worth $4,611,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of IDXX. Signaturefd LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $105,000. Three Peaks Capital Management LLC acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $108,000. Optimum Investment Advisors acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $139,000. Cerebellum GP LLC acquired a new stake in IDEXX Laboratories in the 2nd quarter worth about $181,000. Finally, Financial Gravity Wealth Inc. acquired a new stake in IDEXX Laboratories in the 1st quarter worth about $191,000. 88.86% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $274.00 price target on the stock in a research note on Thursday, August 2nd. Canaccord Genuity reissued a “positive” rating and issued a $215.00 price target on shares of IDEXX Laboratories in a research note on Monday, May 7th. Credit Suisse Group raised their price target on IDEXX Laboratories from $228.00 to $231.00 and gave the stock an “outperform” rating in a research note on Thursday, June 21st. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus raised their price target on IDEXX Laboratories from $215.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, May 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company. IDEXX Laboratories currently has a consensus rating of “Buy” and an average price target of $244.00.
In other news, VP Jacqueline Studer sold 475 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 30th. The stock was sold at an average price of $209.98, for a total value of $99,740.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Bruce L. Claflin acquired 415 shares of IDEXX Laboratories stock in a transaction dated Friday, August 3rd. The stock was purchased at an average cost of $242.12 per share, for a total transaction of $100,479.80. Following the completion of the purchase, the director now directly owns 1,415 shares in the company, valued at $342,599.80. The disclosure for this purchase can be found here. Insiders sold a total of 10,699 shares of company stock worth $2,515,943 over the last ninety days. Corporate insiders own 2.56% of the company’s stock.
NASDAQ IDXX opened at $242.48 on Tuesday. The stock has a market capitalization of $21.08 billion, a PE ratio of 73.93, a PEG ratio of 2.22 and a beta of 0.69. IDEXX Laboratories, Inc. has a 1-year low of $146.09 and a 1-year high of $252.49. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of -14.77.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.06. The business had revenue of $580.75 million for the quarter, compared to analyst estimates of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The company’s revenue was up 14.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. sell-side analysts expect that IDEXX Laboratories, Inc. will post 4.18 EPS for the current fiscal year.
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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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