Trexquant Investment LP Takes Position in IDEXX Laboratories, Inc. (IDXX)
Trexquant Investment LP bought a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,800 shares of the company’s stock, valued at approximately $775,000.
A number of other large investors also recently made changes to their positions in IDXX. 1st Global Advisors Inc. raised its stake in shares of IDEXX Laboratories by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 7,548 shares of the company’s stock worth $1,167,000 after buying an additional 88 shares during the last quarter. Sei Investments Co. raised its stake in shares of IDEXX Laboratories by 76.6% in the first quarter. Sei Investments Co. now owns 20,277 shares of the company’s stock worth $3,135,000 after buying an additional 8,792 shares during the last quarter. AXA raised its stake in shares of IDEXX Laboratories by 52.0% in the first quarter. AXA now owns 346,593 shares of the company’s stock worth $53,587,000 after buying an additional 118,643 shares during the last quarter. Cutler Group LP raised its stake in shares of IDEXX Laboratories by 65.2% in the second quarter. Cutler Group LP now owns 3,800 shares of the company’s stock worth $613,000 after buying an additional 1,500 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in shares of IDEXX Laboratories by 0.3% in the first quarter. Stephens Investment Management Group LLC now owns 282,580 shares of the company’s stock worth $43,690,000 after buying an additional 751 shares during the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 151.06 on Friday. The stock has a market capitalization of $13.18 billion, a P/E ratio of 51.96 and a beta of 0.49. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01. The company has a 50 day moving average of $162.05 and a 200 day moving average of $155.37.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The company had revenue of $508.90 million during the quarter, compared to the consensus estimate of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. IDEXX Laboratories’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the company earned $0.74 earnings per share. Equities analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories announced that its board has authorized a share repurchase program on Wednesday, May 3rd that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
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A number of equities research analysts have recently weighed in on IDXX shares. Zacks Investment Research lowered shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. BidaskClub raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, Stifel Nicolaus reaffirmed 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, two have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $173.80.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 17,000 shares of the stock in a transaction on 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 sale, the chairman now owns 1,039,034 shares in the company, valued at $160,572,314.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Giovani Twigge sold 2,572 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $166.90, for a total value of $429,266.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,572 shares of company stock valued at $8,844,817. 2.77% of the stock is owned by corporate insiders.
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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