Sumitomo Mitsui Trust Holdings Inc. raised its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 14.2% during the first quarter, Holdings Channel reports. The firm owned 296,531 shares of the company’s stock after buying an additional 36,771 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.34% of IDEXX Laboratories worth $45,847,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. Shell Asset Management Co. boosted its stake in shares of IDEXX Laboratories by 0.5% in the third quarter. Shell Asset Management Co. now owns 7,637 shares of the company’s stock worth $861,000 after buying an additional 36 shares during the period. Lourd Capital LLC boosted its stake in shares of IDEXX Laboratories by 1.1% in the first quarter. Lourd Capital LLC now owns 3,277 shares of the company’s stock worth $507,000 after buying an additional 36 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of IDEXX Laboratories by 2.9% in the first quarter. Janney Montgomery Scott LLC now owns 3,130 shares of the company’s stock worth $484,000 after buying an additional 87 shares during the period. Advantus Capital Management Inc boosted its stake in shares of IDEXX Laboratories by 0.9% in the third quarter. Advantus Capital Management Inc now owns 10,943 shares of the company’s stock worth $1,234,000 after buying an additional 100 shares during the period. Finally, Pitcairn Co. boosted its stake in shares of IDEXX Laboratories by 3.4% in the fourth quarter. Pitcairn Co. now owns 3,770 shares of the company’s stock worth $442,000 after buying an additional 124 shares during the period. 91.42% of the stock is owned by hedge funds and other institutional investors.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 1.25% during mid-day trading on Friday, reaching $162.47. 771,065 shares of the company were exchanged. The company has a market capitalization of $14.30 billion, a price-to-earnings ratio of 66.59 and a beta of 0.48. The firm’s 50-day moving average is $156.91 and its 200-day moving average is $132.61. IDEXX Laboratories, Inc. has a 12 month low of $85.98 and a 12 month high of $172.00.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Friday, April 28th. The company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.16. IDEXX Laboratories had a net margin of 12.51% and a negative return on equity of 671.57%. The business had revenue of $462 million for the quarter, compared to analyst estimates of $455.10 million. During the same period last year, the business posted $0.51 EPS. IDEXX Laboratories’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that IDEXX Laboratories, Inc. will post $3.04 earnings per share for the current fiscal year.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Wednesday, April 5th. Stifel Nicolaus upped their price target on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Feltl & Co. cut shares of IDEXX Laboratories from a “hold” rating to a “sell” rating in a research report on Friday, February 3rd. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price target (up from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $182.00.
In other news, Director Lawrence D. Kingsley bought 1,000 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were acquired at an average cost of $146.48 per share, for a total transaction of $146,480.00. Following the purchase, the director now owns 1,135 shares of the company’s stock, valued at approximately $166,254.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rebecca M. Henderson sold 1,700 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $159.95, for a total transaction of $271,915.00. Following the completion of the transaction, the director now owns 21,552 shares in the company, valued at $3,447,242.40. The disclosure for this sale can be found here. Insiders sold a total of 85,874 shares of company stock worth $12,227,188 over the last quarter. 2.79% of the stock is currently owned by company insiders.
IDEXX Laboratories Company Profile
IDEXX Laboratories, Inc develops, manufactures and distributes products and provides services for the companion animal veterinary, livestock and poultry, dairy and water testing markets. The Company also sells a line of portable electrolytes and blood gas analyzers for the human point-of-care medical diagnostics market.
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