IBM Retirement Fund reduced its stake in shares of Idexx Laboratories Inc. (NASDAQ:IDXX) by 4.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,970 shares of the company’s stock after selling 463 shares during the period. IBM Retirement Fund’s holdings in Idexx Laboratories were worth $833,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the stock. Nordea Investment Management AB purchased a new stake in shares of Idexx Laboratories during the second quarter valued at approximately $176,000. Dearborn Partners LLC increased its position in Idexx Laboratories by 4.8% in the second quarter. Dearborn Partners LLC now owns 10,900 shares of the company’s stock worth $1,012,000 after buying an additional 500 shares during the period. Nisa Investment Advisors LLC increased its position in Idexx Laboratories by 0.5% in the second quarter. Nisa Investment Advisors LLC now owns 68,470 shares of the company’s stock worth $6,358,000 after buying an additional 350 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Idexx Laboratories during the second quarter worth about $761,000. Finally, Davis R M Inc. increased its position in Idexx Laboratories by 0.9% in the second quarter. Davis R M Inc. now owns 289,469 shares of the company’s stock worth $26,880,000 after buying an additional 2,612 shares during the period. Institutional investors own 90.86% of the company’s stock.
Idexx Laboratories Inc. (NASDAQ:IDXX) traded down 0.02% during midday trading on Friday, hitting $109.54. 816,211 shares of the company were exchanged. The stock has a market capitalization of $9.81 billion, a price-to-earnings ratio of 49.66 and a beta of 0.56. The stock has a 50 day moving average of $108.39 and a 200-day moving average of $90.95. Idexx Laboratories Inc. has a 1-year low of $63.48 and a 1-year high of $115.06.
Idexx Laboratories (NASDAQ:IDXX) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.12. Idexx Laboratories had a net margin of 11.94% and a negative return on equity of 414.67%. The company earned $467 million during the quarter, compared to the consensus estimate of $444.83 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Idexx Laboratories’s revenue was up 12.9% on a year-over-year basis. Equities analysts expect that Idexx Laboratories Inc. will post $2.36 earnings per share for the current year.
IDXX has been the subject of a number of analyst reports. Canaccord Genuity reiterated a “buy” rating and set a $120.00 price target on shares of Idexx Laboratories in a research note on Monday, August 22nd. Stifel Nicolaus lifted their price target on Idexx Laboratories from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, August 16th. Zacks Investment Research downgraded Idexx Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, July 4th. Finally, Northcoast Research upgraded Idexx Laboratories from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $105.20.
In other Idexx Laboratories news, Director Rebecca M. Henderson sold 9,924 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $110.43, for a total transaction of $1,095,907.32. Following the completion of the transaction, the director now owns 16,678 shares of the company’s stock, valued at $1,841,751.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael J. Phd Williams sold 49,560 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $108.94, for a total transaction of $5,399,066.40. The disclosure for this sale can be found here. 2.79% of the stock is currently owned by corporate insiders.
About Idexx Laboratories
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