Highbridge Capital Management LLC Has $4.24 Million Position in IDEXX Laboratories, Inc. (IDXX)
Highbridge Capital Management LLC boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,033.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,000 shares of the company’s stock after buying an additional 15,500 shares during the quarter. Highbridge Capital Management LLC’s holdings in IDEXX Laboratories were worth $4,244,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Valeo Financial Advisors LLC bought a new position in IDEXX Laboratories in the 2nd quarter valued at $134,000. Rehmann Capital Advisory Group grew its stake in shares of IDEXX Laboratories by 44.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock worth $146,000 after acquiring an additional 207 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its stake in shares of IDEXX Laboratories by 144.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock worth $154,000 after acquiring an additional 365 shares during the period. AlphaStar Capital Management LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter worth $202,000. Finally, HMS Capital Management LLC bought a new position in shares of IDEXX Laboratories during the 3rd quarter worth $205,000. 91.14% of the stock is owned by institutional investors and hedge funds.
IDXX has been the subject of several research reports. Canaccord Genuity cut their price target on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Monday, November 5th. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 1st. Bank of America cut their price target on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Credit Suisse Group increased their price target on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $252.33.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, November 1st. The company reported $1.05 EPS for the quarter, topping the 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 business had revenue of $545.00 million during the quarter, compared to the consensus estimate of $545.66 million. During the same quarter last year, the company earned $0.76 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current year.
In related news, VP Jacqueline Studer sold 3,313 shares of the firm’s stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $201.27, for a total transaction of $666,807.51. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Rebecca M. Henderson sold 3,504 shares of the firm’s 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 transaction, the director now directly owns 22,200 shares in the company, valued at $4,327,224. The disclosure for this sale can be found here. Company insiders own 2.56% of the company’s stock.
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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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