Summit Global Investments lessened its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.3% in the 1st quarter, Holdings Channel reports. The fund owned 22,811 shares of the company’s stock after selling 311 shares during the period. Summit Global Investments’ holdings in IDEXX Laboratories were worth $5,101,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Pearl River Capital LLC bought a new stake in shares of IDEXX Laboratories in the 4th quarter worth about $28,000. Monetary Management Group Inc. bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $45,000. Anderson Fisher LLC bought a new stake in IDEXX Laboratories during the 1st quarter valued at about $70,000. Sontag Advisory LLC bought a new stake in IDEXX Laboratories during the 4th quarter valued at about $79,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in IDEXX Laboratories by 37.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 361 shares of the company’s stock valued at $81,000 after buying an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 87.76% of the company’s stock.
IDXX traded up $0.13 on Friday, reaching $267.29. 3,641 shares of the company traded hands, compared to its average volume of 380,108. IDEXX Laboratories, Inc. has a one year low of $176.11 and a one year high of $271.34. The firm has a market capitalization of $22.99 billion, a price-to-earnings ratio of 62.62 and a beta of 0.84. The company has a debt-to-equity ratio of 14.81, a current ratio of 1.01 and a quick ratio of 0.74.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.13. The company had revenue of $576.06 million during the quarter, compared to analyst estimates of $575.04 million. IDEXX Laboratories had a net margin of 17.33% and a return on equity of 354,783.84%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 4.82 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on IDXX shares. Canaccord Genuity decreased their price objective on shares of IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BidaskClub upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Friday, March 22nd. Guggenheim started coverage on shares of IDEXX Laboratories in a report on Thursday, May 23rd. They set a “buy” rating and a $276.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a report on Friday, May 3rd. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. IDEXX Laboratories currently has a consensus rating of “Buy” and a consensus target price of $256.71.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,600 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $250.14, for a total transaction of $650,364.00. Following the transaction, the insider now owns 12,595 shares of the company’s stock, valued at approximately $3,150,513.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 28,000 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $249.02, for a total transaction of $6,972,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 50,721 shares of company stock worth $12,554,774 in the last three months. Insiders own 2.70% of the company’s stock.
About IDEXX Laboratories
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.
See Also: Net Asset Value
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