People s United Financial Inc. lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 23.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,960 shares of the company’s stock after selling 1,487 shares during the period. People s United Financial Inc.’s holdings in IDEXX Laboratories were worth $1,238,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fundsmith Equity Fund L.P. acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $965,278,000. Jennison Associates LLC lifted its stake in shares of IDEXX Laboratories by 169.5% in 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 during the last quarter. Marshall Wace LLP acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $45,884,000. Franklin Resources Inc. lifted its stake in shares of IDEXX Laboratories by 36.9% in 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 during the last quarter. Finally, State Treasurer State of Michigan lifted its stake in shares of IDEXX Laboratories by 603.5% in 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 during the last quarter. 91.14% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on IDXX. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. Credit Suisse Group upped their price target on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. Bank of America decreased their price target on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Finally, Canaccord Genuity decreased their price target on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a research note on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the stock. IDEXX Laboratories currently has a consensus rating of “Buy” and an average price target of $252.33.
Shares of NASDAQ IDXX opened at $190.01 on Friday. IDEXX Laboratories, Inc. has a 1-year low of $154.88 and a 1-year high of $256.22. The stock has a market cap of $17.22 billion, a price-to-earnings ratio of 49.19, a P/E/G ratio of 2.53 and a beta of 0.84.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.08. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. The company had revenue of $545.00 million for the quarter, compared to the consensus estimate of $545.66 million. During the same quarter in the prior year, the business earned $0.76 EPS. IDEXX Laboratories’s revenue was up 10.8% on a year-over-year basis. As a group, equities analysts expect that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current year.
In other news, VP Jacqueline Studer sold 3,313 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $201.27, for a total value of $666,807.51. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Rebecca M. Henderson sold 3,504 shares of the stock in a transaction dated Tuesday, November 27th. The shares were sold at an average price of $194.92, for a total value of $682,999.68. Following the completion of the transaction, the director now owns 22,200 shares in the company, valued at approximately $4,327,224. The disclosure for this sale can be found here. 2.56% of the stock is owned by corporate insiders.
IDEXX Laboratories Company 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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