Southeast Asset Advisors Inc. Cuts Holdings in IDEXX Laboratories, Inc. (IDXX)
Southeast Asset Advisors Inc. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 57.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,617 shares of the company’s stock after selling 2,165 shares during the quarter. Southeast Asset Advisors Inc.’s holdings in IDEXX Laboratories were worth $261,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in IDXX. BlackRock Inc. raised its holdings in shares of IDEXX Laboratories by 10.5% during the 2nd quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock worth $1,146,142,000 after acquiring an additional 673,347 shares during the period. Cipher Capital LP purchased a new stake in IDEXX Laboratories in the 2nd quarter valued at about $2,284,000. Pitcairn Co. raised its holdings in IDEXX Laboratories by 21.8% in the 2nd quarter. Pitcairn Co. now owns 6,977 shares of the company’s stock valued at $1,126,000 after buying an additional 1,249 shares during the period. American Century Companies Inc. increased its stake in IDEXX Laboratories by 131.7% during the second quarter. American Century Companies Inc. now owns 480,978 shares of the company’s stock worth $77,639,000 after purchasing an additional 273,398 shares during the period. Finally, Cutler Group LP increased its stake in IDEXX Laboratories by 65.2% during the second quarter. Cutler Group LP now owns 3,800 shares of the company’s stock worth $613,000 after purchasing an additional 1,500 shares during the period. 87.64% of the stock is currently owned by institutional investors.
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IDEXX Laboratories, Inc. (NASDAQ IDXX) traded down 1.34% on Friday, reaching $159.60. The company’s stock had a trading volume of 374,206 shares. The firm has a 50-day moving average price of $156.82 and a 200 day moving average price of $159.93. The firm has a market capitalization of $13.93 billion, a P/E ratio of 54.90 and a beta of 0.48. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.10. The firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $150.79, for a total transaction of $1,960,270.00. Following the completion of the transaction, the chairman now owns 1,044,034 shares in the company, valued at approximately $157,429,886.86. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Jonathan W. Ayers sold 58,000 shares of the stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total value of $8,990,000.00. Following the transaction, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The disclosure for this sale can be found here. In the last three months, insiders sold 151,734 shares of company stock worth $23,436,626. 2.77% of the stock is currently owned by company insiders.
IDXX has been the subject of a number of analyst reports. BidaskClub downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a report on Friday, October 6th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a report on Friday, July 14th. Bank of America Corporation raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a report on Wednesday, August 23rd. Finally, CL King upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective for the company in a research note on Friday, July 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $174.00.
IDEXX Laboratories 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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