Ropes Wealth Advisors LLC Purchases 200 Shares of IDEXX Laboratories, Inc. (IDXX)
Ropes Wealth Advisors LLC increased its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,040 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in IDEXX Laboratories were worth $814,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently made changes to their positions in IDXX. UBS Asset Management Americas Inc. increased its holdings in IDEXX Laboratories by 21.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 233,209 shares of the company’s stock worth $36,056,000 after acquiring an additional 41,801 shares during the last quarter. Sei Investments Co. boosted its stake in IDEXX Laboratories by 76.6% in the 1st quarter. Sei Investments Co. now owns 20,277 shares of the company’s stock worth $3,135,000 after purchasing an additional 8,792 shares during the period. Wealthsource Partners LLC boosted its stake in IDEXX Laboratories by 11.8% in the 1st quarter. Wealthsource Partners LLC now owns 2,220 shares of the company’s stock worth $343,000 after purchasing an additional 235 shares during the period. Penserra Capital Management LLC bought a new position in IDEXX Laboratories in the 1st quarter worth about $767,000. Finally, Bronfman E.L. Rothschild L.P. boosted its stake in IDEXX Laboratories by 2.3% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock worth $119,000 after purchasing an additional 17 shares during the period. 87.64% of the stock is owned by institutional investors.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total value of $8,990,000.00. Following the completion of the sale, the chairman now owns 1,043,034 shares in the company, valued at $161,670,270. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Jonathan W. Ayers sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $154.54, for a total value of $2,627,180.00. Following the completion of the sale, the chairman now owns 1,039,034 shares of the company’s stock, valued at approximately $160,572,314.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 151,734 shares of company stock valued at $23,436,626. Company insiders own 2.77% of the company’s stock.
IDXX has been the subject of several analyst reports. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a research note on Monday, May 29th. Aegis initiated coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 target price for the company. They noted that the move was a valuation call. Canaccord Genuity restated a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Friday, July 14th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. IDEXX Laboratories has an average rating of “Hold” and an average target price of $174.00.
Shares of IDEXX Laboratories, Inc. (NASDAQ IDXX) traded up 1.12% on Friday, reaching $157.50. The company’s stock had a trading volume of 362,117 shares. The company’s 50-day moving average is $154.86 and its 200 day moving average is $159.27. The company has a market capitalization of $13.75 billion, a price-to-earnings ratio of 54.18 and a beta of 0.49. IDEXX Laboratories, Inc. has a 12-month low of $102.45 and a 12-month high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The business had revenue of $508.90 million during 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 quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 earnings per share. Equities analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
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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