Cigna Investments Inc. New Sells 1,737 Shares of IDEXX Laboratories, Inc. (IDXX)
Cigna Investments Inc. New cut its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 20.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 6,619 shares of the company’s stock after selling 1,737 shares during the period. Cigna Investments Inc. New’s holdings in IDEXX Laboratories were worth $1,068,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Bronfman E.L. Rothschild L.P. raised 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 last quarter. Capital Advisors Ltd. LLC bought a new position in IDEXX Laboratories during the second quarter valued at $128,000. Acrospire Investment Management LLC raised its position in IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock valued at $130,000 after buying an additional 700 shares during the last quarter. Global X Management Co. LLC raised its position in IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock valued at $162,000 after buying an additional 323 shares during the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in IDEXX Laboratories during the first quarter valued at $200,000. Institutional investors and hedge funds own 89.80% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (IDXX) opened at 151.06 on Friday. The stock’s 50 day moving average price is $162.05 and its 200-day moving average price is $155.37. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 51.96 and a beta of 0.49. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly 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 firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same quarter in the previous year, the company posted $0.74 EPS. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts forecast that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.
IDEXX Laboratories declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 3rd that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several equities analysts have weighed in on the company. Aegis assumed coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 target price on the stock. They noted that the move was a valuation call. Stifel Nicolaus increased their target price on IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Canaccord Genuity reissued a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research note on Monday, May 29th. Finally, BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $173.80.
In other news, Chairman Jonathan W. Ayers sold 17,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $154.54, for a total value of $2,627,180.00. Following the transaction, the chairman now directly owns 1,039,034 shares of the company’s stock, valued at approximately $160,572,314.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William T. End sold 5,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $162.55, for a total value of $812,750.00. Following the completion of the transaction, the director now directly owns 45,256 shares in the company, valued at $7,356,362.80. The disclosure for this sale can be found here. Insiders sold a total of 55,572 shares of company stock worth $8,844,817 in the last quarter. Corporate insiders own 2.77% of the company’s stock.
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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