IDEXX Laboratories, Inc. (IDXX) Holdings Reduced by Renaissance Technologies LLC
Renaissance Technologies LLC lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 18.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,778,004 shares of the company’s stock after selling 391,925 shares during the quarter. IDEXX Laboratories comprises about 0.5% of Renaissance Technologies LLC’s portfolio, making the stock its 23rd biggest holding. Renaissance Technologies LLC owned about 2.06% of IDEXX Laboratories worth $443,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of IDXX. Fundsmith Equity Fund L.P. acquired a new stake in shares of IDEXX Laboratories during the second quarter worth about $965,278,000. Northern Trust Corp lifted its position in shares of IDEXX Laboratories by 2.7% during the second quarter. Northern Trust Corp now owns 1,033,997 shares of the company’s stock worth $225,350,000 after purchasing an additional 27,422 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of IDEXX Laboratories by 36.9% during the third quarter. Franklin Resources Inc. now owns 579,567 shares of the company’s stock worth $144,694,000 after purchasing an additional 156,222 shares in the last quarter. Credit Suisse AG lifted its position in shares of IDEXX Laboratories by 5.9% during the third quarter. Credit Suisse AG now owns 476,905 shares of the company’s stock worth $119,064,000 after purchasing an additional 26,776 shares in the last quarter. Finally, Eagle Asset Management Inc. lifted its position in shares of IDEXX Laboratories by 10.9% during the third quarter. Eagle Asset Management Inc. now owns 432,870 shares of the company’s stock worth $108,070,000 after purchasing an additional 42,667 shares in the last quarter. 91.14% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on IDXX. Credit Suisse Group increased their price target on shares of IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a research report on Friday, August 17th. BidaskClub cut shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Bank of America reduced their price target on shares of IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, Canaccord Genuity reduced their price target on shares of IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. IDEXX Laboratories has a consensus rating of “Buy” and a consensus price target of $252.33.
Shares of NASDAQ:IDXX opened at $196.80 on Wednesday. The company has a market capitalization of $17.57 billion, a P/E ratio of 60.00, a PEG ratio of 2.62 and a beta of 0.84. IDEXX Laboratories, Inc. has a fifty-two week low of $154.88 and a fifty-two week high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. The firm had revenue of $545.00 million for the quarter, compared to analysts’ expectations of $545.66 million. IDEXX Laboratories had a net margin of 15.19% and a negative return on equity of 994.76%. The firm’s revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 earnings per share. Equities analysts forecast that IDEXX Laboratories, Inc. will post 4.19 EPS for the current year.
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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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