Nomura Asset Management Co. Ltd. lowered its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 98,482 shares of the company’s stock after selling 5,669 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in IDEXX Laboratories were worth $23,856,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of IDXX. BlackRock Inc. lifted its stake in shares of IDEXX Laboratories by 6.0% during the first quarter. BlackRock Inc. now owns 7,868,095 shares of the company’s stock valued at $1,905,968,000 after acquiring an additional 443,250 shares during the period. State Street Corp lifted its stake in shares of IDEXX Laboratories by 0.8% during the first quarter. State Street Corp now owns 3,801,209 shares of the company’s stock valued at $920,805,000 after acquiring an additional 29,361 shares during the period. Blair William & Co. IL lifted its stake in shares of IDEXX Laboratories by 1.1% during the first quarter. Blair William & Co. IL now owns 1,563,254 shares of the company’s stock valued at $378,683,000 after acquiring an additional 17,274 shares during the period. Geode Capital Management LLC lifted its stake in shares of IDEXX Laboratories by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 1,551,666 shares of the company’s stock valued at $404,545,000 after acquiring an additional 48,968 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of IDEXX Laboratories by 740.5% during the first quarter. Alliancebernstein L.P. now owns 1,264,276 shares of the company’s stock valued at $306,258,000 after acquiring an additional 1,113,849 shares during the period. 88.57% of the stock is currently owned by institutional investors.
IDXX has been the topic of several research reports. TheStreet raised IDEXX Laboratories from a “c+” rating to a “b-” rating in a research note on Thursday, April 30th. Stifel Nicolaus upped their price objective on IDEXX Laboratories from $266.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 1st. Finally, BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 6th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. IDEXX Laboratories presently has a consensus rating of “Buy” and a consensus target price of $290.71.
Shares of IDEXX Laboratories stock traded down $20.32 during trading hours on Thursday, hitting $301.57. The company’s stock had a trading volume of 329,129 shares, compared to its average volume of 649,918. IDEXX Laboratories, Inc. has a 12 month low of $168.65 and a 12 month high of $324.30. The stock has a 50 day moving average of $290.47 and a 200 day moving average of $267.00. The company has a market capitalization of $26.30 billion, a PE ratio of 64.38, a price-to-earnings-growth ratio of 6.16 and a beta of 0.82. The company has a debt-to-equity ratio of 7.06, a current ratio of 0.85 and a quick ratio of 0.60.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, April 30th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.20 by $0.09. IDEXX Laboratories had a return on equity of 264.71% and a net margin of 17.78%. The firm had revenue of $626.30 million during the quarter, compared to analysts’ expectations of $616.87 million. During the same period in the prior year, the firm posted $1.17 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities analysts expect that IDEXX Laboratories, Inc. will post 4.91 EPS for the current year.
IDEXX Laboratories declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback 5,000,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.
In other news, VP Giovani Twigge sold 14,070 shares of IDEXX Laboratories stock in a transaction on Friday, May 29th. The stock was sold at an average price of $307.73, for a total value of $4,329,761.10. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director M Anne Szostak sold 7,722 shares of IDEXX Laboratories stock in a transaction on Friday, May 29th. The shares were sold at an average price of $306.91, for a total value of $2,369,959.02. Following the completion of the transaction, the director now owns 7,722 shares in the company, valued at approximately $2,369,959.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 106,182 shares of company stock worth $31,409,008. Corporate insiders own 2.53% of the company’s stock.
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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