Baldwin Brothers Inc. MA reduced its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 15,252 shares of the company’s stock after selling 271 shares during the quarter. Baldwin Brothers Inc. MA’s holdings in IDEXX Laboratories were worth $5,996,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IDXX. State Street Corp increased its stake in shares of IDEXX Laboratories by 0.8% in the first quarter. State Street Corp now owns 3,801,209 shares of the company’s stock worth $920,805,000 after purchasing an additional 29,361 shares during the period. Capital World Investors increased its stake in shares of IDEXX Laboratories by 0.6% in the first quarter. Capital World Investors now owns 1,106,305 shares of the company’s stock worth $267,991,000 after purchasing an additional 6,709 shares during the period. WCM Investment Management LLC increased its stake in shares of IDEXX Laboratories by 72.1% in the second quarter. WCM Investment Management LLC now owns 500,694 shares of the company’s stock worth $165,309,000 after purchasing an additional 209,804 shares during the period. Swiss National Bank increased its stake in shares of IDEXX Laboratories by 1.4% in the second quarter. Swiss National Bank now owns 337,525 shares of the company’s stock worth $111,437,000 after purchasing an additional 4,600 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of IDEXX Laboratories by 7.8% in the second quarter. Federated Hermes Inc. now owns 316,126 shares of the company’s stock worth $104,372,000 after purchasing an additional 22,775 shares during the period. Institutional investors own 87.01% of the company’s stock.
In other IDEXX Laboratories news, VP Giovani Twigge sold 18,038 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $386.19, for a total transaction of $6,966,095.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian P. Mckeon sold 83,724 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $378.97, for a total transaction of $31,728,884.28. Following the sale, the chief financial officer now owns 58,386 shares of the company’s stock, valued at approximately $22,126,542.42. The disclosure for this sale can be found here. Insiders sold a total of 122,316 shares of company stock valued at $46,594,823 in the last 90 days. 2.53% of the stock is currently owned by corporate insiders.
A number of equities research analysts recently weighed in on IDXX shares. Stifel Nicolaus lifted their target price on IDEXX Laboratories from $280.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Credit Suisse Group lifted their target price on IDEXX Laboratories from $415.00 to $422.00 and gave the stock an “outperform” rating in a research report on Monday, August 17th. Bank of America lifted their target price on IDEXX Laboratories from $300.00 to $390.00 and gave the stock a “buy” rating in a research report on Monday, July 20th. Finally, BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a report on Thursday, October 1st. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $357.40.
Shares of IDXX traded up $1.03 on Friday, hitting $423.75. The company’s stock had a trading volume of 269,540 shares, compared to its average volume of 554,780. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.44 and a quick ratio of 1.02. The company has a 50 day moving average price of $381.27 and a 200 day moving average price of $332.95. IDEXX Laboratories, Inc. has a fifty-two week low of $168.65 and a fifty-two week high of $430.86. The company has a market capitalization of $36.04 billion, a PE ratio of 80.10, a PEG ratio of 4.79 and a beta of 0.81.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.55. IDEXX Laboratories had a net margin of 18.59% and a return on equity of 241.52%. The firm had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $589.98 million. During the same quarter in the previous year, the company posted $1.43 EPS. IDEXX Laboratories’s revenue was up 2.8% on a year-over-year basis. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post 5.72 EPS for the current 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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
Further Reading: Calculating net profit and net profit margin ratio
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