IDEXX Laboratories, Inc. (NASDAQ:IDXX) Shares Sold by Daiwa Securities Group Inc.
Daiwa Securities Group Inc. cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 35.4% during the second quarter, Holdings Channel reports. The firm owned 7,750 shares of the company’s stock after selling 4,250 shares during the period. Daiwa Securities Group Inc.’s holdings in IDEXX Laboratories were worth $1,251,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. increased its position in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after buying an additional 17 shares during the period. Capital Advisors Ltd. LLC purchased a new stake in shares of IDEXX Laboratories during the second quarter worth about $128,000. Acrospire Investment Management LLC boosted its stake in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after buying an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after buying an additional 323 shares in the last quarter. Finally, IBM Retirement Fund boosted its stake in shares of IDEXX Laboratories by 29.0% in the second quarter. IBM Retirement Fund now owns 1,278 shares of the company’s stock worth $206,000 after buying an additional 287 shares in the last quarter. 89.80% of the stock is currently owned by institutional investors.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 154.51 on Thursday. The company has a 50-day moving average price of $162.50 and a 200-day moving average price of $155.40. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01. The company has a market capitalization of $13.48 billion, a PE ratio of 53.15 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.10. The business had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period last year, the firm posted $0.74 earnings per share. Analysts predict that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.
IDEXX Laboratories declared that its board has approved a stock repurchase program on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
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A number of equities research analysts recently issued reports on IDXX shares. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Canaccord Genuity restated a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $185.00 price objective on shares of IDEXX Laboratories in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $173.80.
In other news, Director William T. End sold 5,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $162.55, for a total value of $812,750.00. Following the transaction, the director now owns 45,256 shares of the company’s stock, valued at $7,356,362.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lawrence D. Kingsley acquired 2,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was bought at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the purchase, the director now directly owns 3,344 shares of the company’s stock, valued at $507,485.44. The disclosure for this purchase can be found here. Insiders sold 38,572 shares of company stock worth $6,217,637 over the last three months. 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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