Stratos Wealth Partners LTD. Has $252,000 Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)
Stratos Wealth Partners LTD. lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,562 shares of the company’s stock after selling 11 shares during the period. Stratos Wealth Partners LTD.’s holdings in IDEXX Laboratories were worth $252,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Conestoga Capital Advisors LLC increased its position in shares of IDEXX Laboratories by 134.8% in the first quarter. Conestoga Capital Advisors LLC now owns 5,400 shares of the company’s stock valued at $835,000 after buying an additional 3,100 shares during the last quarter. Gateway Investment Advisers LLC increased its position in shares of IDEXX Laboratories by 260.3% in the first quarter. Gateway Investment Advisers LLC now owns 7,375 shares of the company’s stock valued at $1,140,000 after buying an additional 5,328 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of IDEXX Laboratories by 65.6% in the first quarter. Capstone Asset Management Co. now owns 17,678 shares of the company’s stock valued at $2,733,000 after buying an additional 7,006 shares during the last quarter. Bank of Montreal Can increased its position in shares of IDEXX Laboratories by 38.1% in the first quarter. Bank of Montreal Can now owns 354,959 shares of the company’s stock valued at $54,879,000 after buying an additional 97,959 shares during the last quarter. Finally, Highland Capital Management LLC purchased a new position in shares of IDEXX Laboratories during the first quarter valued at approximately $264,000. Institutional investors own 89.80% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 151.06 on Friday. 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 $13.18 billion, a P/E ratio of 51.96 and a beta of 0.49. The firm has a 50-day moving average of $162.05 and a 200-day moving average of $155.37.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $508.90 million during the quarter, compared to analysts’ expectations of $502.44 million. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories announced that its Board of Directors has authorized a share repurchase plan on Wednesday, May 3rd that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Several equities analysts recently commented on the stock. Aegis started coverage on shares of IDEXX Laboratories in a report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Stifel Nicolaus upped their target price on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Canaccord Genuity restated a “buy” rating and issued a $180.00 target price (up from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 target price on the stock in a research note on Monday, May 29th. Finally, BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $173.80.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 18,000 shares of IDEXX Laboratories stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $155.22, for a total transaction of $2,793,960.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Giovani Twigge sold 2,572 shares of IDEXX Laboratories stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $166.90, for a total transaction of $429,266.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,572 shares of company stock valued at $8,844,817. Company 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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