Scout Investments Inc. bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 56,759 shares of the company’s stock, valued at approximately $15,434,000. Scout Investments Inc. owned about 0.07% of IDEXX Laboratories at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in IDEXX Laboratories by 1.2% during the second quarter. Vanguard Group Inc. now owns 9,247,387 shares of the company’s stock worth $2,546,084,000 after purchasing an additional 112,147 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in IDEXX Laboratories by 32.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,180,724 shares of the company’s stock worth $875,749,000 after purchasing an additional 787,736 shares during the last quarter. Blair William & Co. IL boosted its holdings in IDEXX Laboratories by 0.7% during the first quarter. Blair William & Co. IL now owns 1,582,222 shares of the company’s stock worth $353,785,000 after purchasing an additional 10,586 shares during the last quarter. American Century Companies Inc. boosted its holdings in IDEXX Laboratories by 111.2% during the first quarter. American Century Companies Inc. now owns 1,483,074 shares of the company’s stock worth $331,615,000 after purchasing an additional 780,846 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in IDEXX Laboratories by 28.2% during the second quarter. Invesco Ltd. now owns 1,472,407 shares of the company’s stock worth $405,398,000 after purchasing an additional 323,919 shares during the last quarter. Institutional investors and hedge funds own 86.69% of the company’s stock.
In other news, insider Giovani Twigge sold 2,300 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $274.44, for a total value of $631,212.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Jonathan W. Ayers sold 20,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $262.26, for a total transaction of $5,245,200.00. The disclosure for this sale can be found here. Insiders sold 73,305 shares of company stock worth $19,402,442 over the last three months. Insiders own 2.70% of the company’s stock.
Several research analysts recently commented on the stock. Canaccord Genuity restated a “buy” rating and set a $285.00 target price on shares of IDEXX Laboratories in a report on Friday, August 2nd. ValuEngine cut shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group began coverage on shares of IDEXX Laboratories in a research note on Monday, September 9th. They issued a “neutral” rating and a $277.00 price target for the company. BidaskClub upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Saturday, September 21st. Finally, Credit Suisse Group increased their price target on shares of IDEXX Laboratories from $282.00 to $293.00 and gave the company an “outperform” rating in a research note on Friday, August 16th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $285.29.
IDXX stock traded up $3.99 during trading hours on Wednesday, reaching $271.71. The stock had a trading volume of 2,867 shares, compared to its average volume of 448,397. The stock has a market capitalization of $23.81 billion, a PE ratio of 63.61 and a beta of 0.82. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.15 and a quick ratio of 0.83. The stock has a 50-day simple moving average of $276.73 and a 200 day simple moving average of $260.95. IDEXX Laboratories, Inc. has a fifty-two week low of $176.11 and a fifty-two week high of $292.17.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $620.10 million during the quarter, compared to analysts’ expectations of $627.10 million. IDEXX Laboratories had a net margin of 17.78% and a return on equity of 765.45%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.23 earnings per share. On average, sell-side analysts forecast that IDEXX Laboratories, Inc. will post 4.86 EPS for the current fiscal year.
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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