IDEXX Laboratories, Inc. (IDXX) Holdings Reduced by Acrospire Investment Management LLC
Acrospire Investment Management LLC cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 24.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 639 shares of the company’s stock after selling 202 shares during the period. Acrospire Investment Management LLC’s holdings in IDEXX Laboratories were worth $103,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Thrivent Financial For Lutherans boosted its position in IDEXX Laboratories by 3.1% in the second quarter. Thrivent Financial For Lutherans now owns 3,340 shares of the company’s stock valued at $539,000 after buying an additional 100 shares in the last quarter. ProShare Advisors LLC boosted its position in IDEXX Laboratories by 44.3% in the second quarter. ProShare Advisors LLC now owns 41,835 shares of the company’s stock valued at $6,753,000 after buying an additional 12,839 shares in the last quarter. Profund Advisors LLC boosted its position in IDEXX Laboratories by 3.7% in the second quarter. Profund Advisors LLC now owns 8,529 shares of the company’s stock valued at $1,377,000 after buying an additional 304 shares in the last quarter. Stevens Capital Management LP acquired a new position in IDEXX Laboratories in the second quarter valued at about $7,582,000. Finally, BT Investment Management Ltd acquired a new position in IDEXX Laboratories in the second quarter valued at about $1,560,000. Hedge funds and other institutional investors own 87.64% of the company’s stock.
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In related news, Chairman Jonathan W. Ayers sold 13,000 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $150.79, for a total transaction of $1,960,270.00. Following the sale, the chairman now directly owns 1,044,034 shares of the company’s stock, valued at approximately $157,429,886.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $155.22, for a total transaction of $2,793,960.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 151,734 shares of company stock worth $23,436,626. Insiders own 2.77% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 155.76 on Friday. The stock’s 50 day moving average is $154.86 and its 200-day moving average is $159.27. IDEXX Laboratories, Inc. has a 12 month low of $102.45 and a 12 month high of $173.01. The firm has a market capitalization of $13.59 billion, a price-to-earnings ratio of 53.58 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period last year, the firm earned $0.74 EPS. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. Equities analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
A number of equities analysts have commented on IDXX shares. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Aegis started coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, June 13th. BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research report on Friday, July 14th. Two research 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 stock presently has an average rating of “Hold” and an average target price of $174.00.
IDEXX Laboratories 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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