The Carleon Capital Partners LLC Sells 7,314 Shares of IDEXX Laboratories, Inc. (IDXX)

The Carleon Capital Partners LLC Sells 7,314 Shares of IDEXX Laboratories, Inc. (IDXX)

Several other hedge funds and other institutional investors also recently modified their holdings of IDXX. Bronfman E.L. Rothschild L.P. boosted its position in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock valued at $119,000 after buying an additional 17 shares in the last quarter. Capital Advisors Ltd. LLC bought a new position in shares of IDEXX Laboratories during the second quarter valued at $128,000. Acrospire Investment Management LLC boosted its position in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock valued at $130,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its position in shares of IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock valued at $162,000 after buying an additional 323 shares in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in shares of IDEXX Laboratories during the first quarter valued at $200,000. Institutional investors and hedge funds own 89.12% of the company’s stock.

Carleon Capital Partners LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 32.6% during the second quarter, Holdings Channel reports. The institutional investor owned 15,100 shares of the company’s stock after selling 7,314 shares during the period. Carleon Capital Partners LLC’s holdings in IDEXX Laboratories were worth $2,437,000 at the end of the most recent quarter.

Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 154.68 on Wednesday. The stock’s 50 day moving average is $163.95 and its 200 day moving average is $154.43. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 57.31 and a beta of 0.49. IDEXX Laboratories, Inc. has a 52-week low of $93.14 and a 52-week high of $173.01.

IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 1st. The company reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.02. IDEXX Laboratories had a net margin of 13.47% and a negative return on equity of 706.91%. The firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same quarter last year, the business earned $0.74 earnings per share. IDEXX Laboratories’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that IDEXX Laboratories, Inc. will post $3.07 earnings per share for the current fiscal year.

IDEXX Laboratories announced that its Board of Directors has initiated a share buyback program on Wednesday, May 3rd that permits the company to buyback 3,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a report on Wednesday, June 28th. Canaccord Genuity restated a “buy” rating and set a $180.00 target price (up from $165.00) on shares of IDEXX Laboratories in a report on Friday, April 28th. Aegis assumed coverage on IDEXX Laboratories in a report on Wednesday, May 31st. They set a “sell” rating and a $118.00 target price on the stock. They noted that the move was a valuation call. BidaskClub cut IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Finally, CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price on the stock in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. IDEXX Laboratories presently has an average rating of “Hold” and a consensus target price of $173.80.

In related news, insider Giovani Twigge sold 2,572 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total transaction of $429,266.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rebecca M. Henderson sold 1,700 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $159.95, for a total transaction of $271,915.00. Following the sale, the director now owns 21,552 shares in the company, valued at approximately $3,447,242.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 75,272 shares of company stock worth $12,264,082. 2.77% of the stock is 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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