Assetmark Inc. reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 48,112 shares of the company’s stock after selling 2,042 shares during the quarter. Assetmark Inc. owned 0.06% of IDEXX Laboratories worth $12,012,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in IDXX. Fundsmith Equity Fund L.P. bought a new stake in IDEXX Laboratories during the 2nd quarter valued at about $965,278,000. Jennison Associates LLC increased its stake in IDEXX Laboratories by 169.5% during the 3rd quarter. Jennison Associates LLC now owns 338,870 shares of the company’s stock valued at $84,602,000 after purchasing an additional 213,132 shares in the last quarter. Marshall Wace LLP bought a new stake in IDEXX Laboratories during the 2nd quarter valued at about $45,884,000. Franklin Resources Inc. increased its stake in IDEXX Laboratories by 36.9% during the 3rd quarter. Franklin Resources Inc. now owns 579,567 shares of the company’s stock valued at $144,694,000 after purchasing an additional 156,222 shares in the last quarter. Finally, State Treasurer State of Michigan increased its stake in IDEXX Laboratories by 603.5% during the 3rd quarter. State Treasurer State of Michigan now owns 180,800 shares of the company’s stock valued at $45,139,000 after purchasing an additional 155,100 shares in the last quarter. Institutional investors and hedge funds own 91.14% of the company’s stock.
In other news, VP Jacqueline Studer sold 3,313 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $201.27, for a total value of $666,807.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rebecca M. Henderson sold 3,504 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $194.92, for a total transaction of $682,999.68. Following the completion of the sale, the director now owns 22,200 shares of the company’s stock, valued at $4,327,224. The disclosure for this sale can be found here. Insiders own 2.56% of the company’s stock.
A number of research firms have weighed in on IDXX. Canaccord Genuity reduced their price objective on shares of IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, November 5th. BidaskClub lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Bank of America reduced their price objective on shares of IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Credit Suisse Group raised their price objective on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. IDEXX Laboratories presently has an average rating of “Buy” and a consensus target price of $252.33.
Shares of IDXX stock opened at $190.01 on Friday. IDEXX Laboratories, Inc. has a 52 week low of $154.88 and a 52 week high of $256.22. The company has a market capitalization of $16.97 billion, a PE ratio of 57.93, a P/E/G ratio of 2.50 and a beta of 0.84.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, November 1st. The company reported $1.05 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.08. IDEXX Laboratories had a net margin of 15.19% and a negative return on equity of 994.76%. The firm had revenue of $545.00 million during the quarter, compared to analyst estimates of $545.66 million. During the same period in the previous year, the business posted $0.76 earnings per share. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, research analysts anticipate that IDEXX Laboratories, Inc. will post 4.19 EPS for the current fiscal year.
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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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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