Capital Fund Management S.A. boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1,814.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,068 shares of the company’s stock after buying an additional 70,200 shares during the quarter. Capital Fund Management S.A. owned approximately 0.08% of IDEXX Laboratories worth $11,956,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in IDEXX Laboratories by 2.3% in the first 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 in the last quarter. Capital Advisors Ltd. LLC acquired a new position in IDEXX Laboratories in the second quarter worth $128,000. Acrospire Investment Management LLC boosted its stake in IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after purchasing an additional 700 shares in the last quarter. Global X Management Co. LLC boosted its stake in IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock worth $162,000 after purchasing an additional 323 shares in the last quarter. Finally, IBM Retirement Fund boosted its stake in IDEXX Laboratories by 29.0% in the second quarter. IBM Retirement Fund now owns 1,278 shares of the company’s stock worth $206,000 after purchasing an additional 287 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors and hedge funds.
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A number of research firms have commented on IDXX. Bank of America Corporation raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price objective on the stock in a research note on Wednesday, August 23rd. Canaccord Genuity reissued a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, August 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $185.00 price objective on shares of IDEXX Laboratories in a research note on Monday, August 21st. BidaskClub lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, CL King raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $174.00.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 157.50 on Monday. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01. The company has a market cap of $13.75 billion, a P/E ratio of 54.18 and a beta of 0.49. The stock’s 50 day moving average price is $154.86 and its 200-day moving average price is $159.27.
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 Thomson Reuters’ consensus estimate of $0.85 by $0.10. The firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period last year, the business earned $0.74 EPS. The company’s revenue was up 9.1% compared to the same quarter last year. Equities analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.
In related news, Chairman Jonathan W. Ayers sold 58,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total transaction of $8,990,000.00. Following 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 available at this hyperlink. Also, Director Lawrence D. Kingsley bought 2,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The shares were bought at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the completion of the acquisition, the director now directly owns 3,344 shares in the company, valued at approximately $507,485.44. The disclosure for this purchase can be found here. In the last three months, insiders have sold 151,734 shares of company stock worth $23,436,626. 2.77% of the stock is currently owned by company insiders.
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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