Nissay Asset Management Corp Japan ADV trimmed its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,636 shares of the company’s stock after selling 892 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in IDEXX Laboratories were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $148,632,000. FMR LLC grew its stake in IDEXX Laboratories by 120.7% during the fourth quarter. FMR LLC now owns 561,266 shares of the company’s stock worth $104,407,000 after purchasing an additional 306,919 shares during the period. Principal Financial Group Inc. grew its stake in IDEXX Laboratories by 58.8% during the fourth quarter. Principal Financial Group Inc. now owns 787,832 shares of the company’s stock worth $146,551,000 after purchasing an additional 291,795 shares during the period. BlackRock Inc. grew its stake in IDEXX Laboratories by 4.6% during the fourth quarter. BlackRock Inc. now owns 6,549,022 shares of the company’s stock worth $1,218,251,000 after purchasing an additional 289,208 shares during the period. Finally, Samlyn Capital LLC acquired a new stake in IDEXX Laboratories during the fourth quarter worth approximately $28,597,000. Institutional investors own 87.46% of the company’s stock.
Several equities research analysts recently commented on IDXX shares. Canaccord Genuity decreased their target price on IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Friday, March 22nd. Finally, Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 target price for the company in a research note on Friday, May 3rd. Six research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. IDEXX Laboratories has a consensus rating of “Buy” and an average price target of $253.50.
Shares of IDEXX Laboratories stock opened at $246.18 on Thursday. The company has a quick ratio of 0.74, a current ratio of 1.01 and a debt-to-equity ratio of 14.81. IDEXX Laboratories, Inc. has a 52 week low of $176.11 and a 52 week high of $256.22. The company has a market capitalization of $20.88 billion, a price-to-earnings ratio of 57.79 and a beta of 0.97.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $1.17 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.13. IDEXX Laboratories had a return on equity of 354,783.84% and a net margin of 17.33%. The firm had revenue of $576.06 million during the quarter, compared to analysts’ expectations of $575.04 million. During the same quarter last year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 4.82 EPS for the current year.
In other IDEXX Laboratories news, insider Giovani Twigge sold 2,015 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $250.00, for a total value of $503,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael Lane sold 736 shares of IDEXX Laboratories stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $211.58, for a total value of $155,722.88. Following the transaction, the vice president now directly owns 6,468 shares in the company, valued at approximately $1,368,499.44. The disclosure for this sale can be found here. Insiders sold 65,457 shares of company stock valued at $15,530,423 in the last three months. Insiders own 2.70% of the company’s stock.
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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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