Jonathan W. Ayers Sells 58,000 Shares of IDEXX Laboratories, Inc. (IDXX) Stock
IDEXX Laboratories, Inc. (NASDAQ:IDXX) Chairman Jonathan W. Ayers sold 58,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $155.00, for a total transaction of $8,990,000.00. Following the completion of the sale, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Jonathan W. Ayers also recently made the following trade(s):
- On Tuesday, August 8th, Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock. The shares were sold at an average price of $155.22, for a total transaction of $2,793,960.00.
IDEXX Laboratories, Inc. (IDXX) traded up 0.35% during midday trading on Wednesday, reaching $155.21. 870,967 shares of the company’s stock traded hands. The firm’s 50-day moving average is $160.79 and its 200 day moving average is $156.63. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01. The firm has a market cap of $13.55 billion, a PE ratio of 53.39 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share 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 during the quarter, compared to analysts’ expectations of $502.44 million. During the same period in the previous year, the company earned $0.74 earnings per share. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts expect that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
IDEXX Laboratories announced that its Board of Directors has approved a share buyback plan on Wednesday, May 3rd that allows the company to buyback 3,000,000 shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
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Hedge funds have recently made changes to their positions in the stock. Teachers Advisors LLC boosted its stake in shares of IDEXX Laboratories by 37.9% in the fourth quarter. Teachers Advisors LLC now owns 133,604 shares of the company’s stock worth $15,668,000 after buying an additional 36,732 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of IDEXX Laboratories during the fourth quarter worth approximately $208,000. Exxonmobil Investment Management Inc. TX acquired a new stake in shares of IDEXX Laboratories during the first quarter worth approximately $3,022,000. Gulf International Bank UK Ltd boosted its stake in shares of IDEXX Laboratories by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,750 shares of the company’s stock worth $4,290,000 after buying an additional 400 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of IDEXX Laboratories by 50,651.0% in the first quarter. National Pension Service now owns 79,679 shares of the company’s stock worth $12,312,000 after buying an additional 79,522 shares in the last quarter. 89.42% of the stock is owned by institutional investors and hedge funds.
IDXX has been the subject of several analyst reports. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 price objective for the company in a research note on Tuesday, April 25th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price objective (up previously from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Stifel Nicolaus increased their price objective on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, May 1st. Aegis initiated coverage on shares of IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective for the company. They noted that the move was a valuation call. Finally, BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. IDEXX Laboratories presently has an average rating of “Hold” and an average target price of $173.80.
About IDEXX Laboratories
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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