American Century Companies Inc. reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.1% during the 2nd quarter, Holdings Channel reports. The firm owned 830,847 shares of the company’s stock after selling 53,753 shares during the period. American Century Companies Inc.’s holdings in IDEXX Laboratories were worth $181,075,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently made changes to their positions in IDXX. Signaturefd LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $105,000. Three Peaks Capital Management LLC purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $108,000. Optimum Investment Advisors purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $139,000. Cerebellum GP LLC purchased a new position in shares of IDEXX Laboratories in the 2nd quarter valued at approximately $181,000. Finally, Financial Gravity Wealth Inc. purchased a new position in shares of IDEXX Laboratories in the 1st quarter valued at approximately $191,000. Institutional investors own 88.86% of the company’s stock.
IDEXX Laboratories stock opened at $242.52 on Wednesday. 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, Inc. has a 1-year low of $146.09 and a 1-year high of $252.49. The company has a market capitalization of $21.08 billion, a P/E ratio of 74.19, a price-to-earnings-growth ratio of 2.22 and a beta of 0.69.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.06. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The firm had revenue of $580.75 million for the quarter, compared to the consensus estimate of $574.68 million. During the same period in the previous year, the business earned $0.87 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. equities analysts anticipate that IDEXX Laboratories, Inc. will post 4.18 earnings per share for the current fiscal year.
In related news, VP Jacqueline Studer sold 475 shares of IDEXX Laboratories stock in a transaction that occurred on 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 filing with the SEC, which is available through the SEC website. Also, insider Giovani Twigge sold 1,626 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, May 29th. The shares were sold at an average price of $204.37, for a total value of $332,305.62. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,699 shares of company stock worth $2,515,943. Company insiders own 2.56% of the company’s stock.
Several brokerages have weighed in on IDXX. Credit Suisse Group lifted their target price on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Piper Jaffray Companies lifted their target price on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, July 31st. Finally, Stifel Nicolaus lifted their target price on IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. IDEXX Laboratories currently has a consensus rating of “Buy” and a consensus target price of $244.00.
IDEXX Laboratories Company 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.
Featured Story: Leveraged Buyout (LBO)
Want to see what other hedge funds are holding IDXX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IDEXX Laboratories, Inc. (NASDAQ:IDXX).
Receive News & Ratings for IDEXX Laboratories Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IDEXX Laboratories and related companies with MarketBeat.com's FREE daily email newsletter.