Envestnet Asset Management Inc. Decreases Position in IDEXX Laboratories, Inc. (IDXX)
Envestnet Asset Management Inc. cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,295 shares of the company’s stock after selling 900 shares during the quarter. Envestnet Asset Management Inc.’s holdings in IDEXX Laboratories were worth $3,934,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in IDEXX Laboratories by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 9,264,579 shares of the company’s stock valued at $1,495,488,000 after buying an additional 354,024 shares in the last quarter. BlackRock Inc. raised its holdings in IDEXX Laboratories by 10.5% in the 2nd quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock valued at $1,146,142,000 after acquiring an additional 673,347 shares during the last quarter. Koch Industries Inc. raised its holdings in IDEXX Laboratories by 44,533.1% in the 2nd quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock valued at $1,391,000 after acquiring an additional 1,396,113 shares during the last quarter. Renaissance Technologies LLC raised its holdings in IDEXX Laboratories by 38.6% in the 2nd quarter. Renaissance Technologies LLC now owns 1,351,900 shares of the company’s stock valued at $218,224,000 after acquiring an additional 376,300 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in IDEXX Laboratories by 42.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,310,660 shares of the company’s stock valued at $211,567,000 after acquiring an additional 392,790 shares during the last quarter. 86.80% of the stock is currently owned by hedge funds and other institutional investors.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at $159.70 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.77 and a debt-to-equity ratio of -12.48. IDEXX Laboratories, Inc. has a 1 year low of $113.92 and a 1 year high of $173.01. The firm has a market cap of $14,004.71, a P/E ratio of 54.06, a P/E/G ratio of 2.43 and a beta of 0.42.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.79 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a net margin of 14.55% and a negative return on equity of 336.64%. The company had revenue of $492.00 million during the quarter, compared to analysts’ expectations of $492.94 million. During the same quarter last year, the company posted $0.62 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. analysts expect that IDEXX Laboratories, Inc. will post 3.24 earnings per share for the current fiscal year.
In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $153.75, for a total value of $2,767,500.00. Following the completion of the transaction, the chief executive officer now owns 1,064,573 shares of the company’s stock, valued at approximately $163,678,098.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Jonathan W. Ayers sold 54,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $151.32, for a total transaction of $8,171,280.00. Following the completion of the transaction, the chairman now directly owns 1,064,573 shares of the company’s stock, valued at approximately $161,091,186.36. The disclosure for this sale can be found here. Insiders sold a total of 110,000 shares of company stock valued at $16,686,200 in the last three months. 2.77% of the stock is currently owned by corporate insiders.
A number of analysts have commented on IDXX shares. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a report on Friday, October 6th. Bank of America upgraded shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a report on Wednesday, August 23rd. Stifel Nicolaus restated a “buy” rating and set a $185.00 price target on shares of IDEXX Laboratories in a report on Monday, August 21st. Finally, Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $173.67.
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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