Insider Selling: IDEXX Laboratories, Inc. (IDXX) CEO Sells 18,000 Shares of Stock
IDEXX Laboratories, Inc. (NASDAQ:IDXX) CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $154.91, for a total transaction of $2,788,380.00. Following the transaction, the chief executive officer now owns 1,043,034 shares of the company’s stock, valued at $161,576,396.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Jonathan W. Ayers also recently made the following trade(s):
- On Tuesday, August 8th, Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock. The stock was sold at an average price of $155.22, for a total transaction of $2,793,960.00.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 0.35% during midday trading on Wednesday, hitting $155.21. 870,967 shares of the stock were exchanged. The stock has a market cap of $13.55 billion, a P/E ratio of 53.39 and a beta of 0.49. The firm has a 50-day moving average price of $160.79 and a 200-day moving average price of $156.63. IDEXX Laboratories, Inc. has a one year low of $102.45 and a one year high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The company had revenue of $508.90 million during the quarter, compared to the consensus estimate of $502.44 million. During the same quarter last year, the company earned $0.74 earnings per share. IDEXX Laboratories’s quarterly revenue was up 9.1% compared to the same quarter last year. On average, equities research analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has initiated a stock repurchase program on Wednesday, May 3rd that permits the company to buyback 3,000,000 shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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A number of equities analysts have weighed in on IDXX shares. BidaskClub cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 price objective for the company in a research report on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and set a $180.00 price objective (up from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Finally, Stifel Nicolaus restated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research report on Friday, July 14th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $173.80.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. D.A. Davidson & CO. increased its position in IDEXX Laboratories by 160.4% in the second quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock valued at $100,000 after buying an additional 385 shares during the period. Sun Life Financial INC increased its position in IDEXX Laboratories by 9,085.7% in the second quarter. Sun Life Financial INC now owns 643 shares of the company’s stock valued at $104,000 after buying an additional 636 shares during the period. BB&T Investment Services Inc. purchased a new position in IDEXX Laboratories during the second quarter valued at about $104,000. Bronfman E.L. Rothschild L.P. increased its position in 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 during the period. Finally, Capital Advisors Ltd. LLC purchased a new position in IDEXX Laboratories during the second quarter valued at about $128,000. 89.42% of the stock is owned by institutional investors and hedge funds.
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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