Monetary Management Group Inc. purchased a new stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 200 shares of the company’s stock, valued at approximately $45,000.
Other hedge funds have also recently modified their holdings of the company. Morgan Stanley lifted its holdings in shares of IDEXX Laboratories by 15.1% in the 3rd quarter. Morgan Stanley now owns 439,913 shares of the company’s stock worth $109,830,000 after acquiring an additional 57,828 shares during the last quarter. Vanguard Group Inc increased its holdings in IDEXX Laboratories by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 8,918,451 shares of the company’s stock worth $2,226,581,000 after acquiring an additional 23,970 shares in the last quarter. Dupont Capital Management Corp grew its holdings in shares of IDEXX Laboratories by 28.3% during the fourth quarter. Dupont Capital Management Corp now owns 1,677 shares of the company’s stock worth $312,000 after buying an additional 370 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of IDEXX Laboratories by 6.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,433 shares of the company’s stock valued at $639,000 after purchasing an additional 198 shares during the period. Finally, WINTON GROUP Ltd grew its holdings in shares of IDEXX Laboratories by 14.2% in the fourth quarter. WINTON GROUP Ltd now owns 6,224 shares of the company’s stock valued at $1,158,000 after purchasing an additional 774 shares during the period. 87.76% of the stock is currently owned by institutional investors.
In other news, Chairman Jonathan W. Ayers sold 28,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $249.02, for a total transaction of $6,972,560.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Rebecca M. Henderson sold 8,790 shares of the company’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $241.57, for a total transaction of $2,123,400.30. Following the transaction, the director now directly owns 27,486 shares of the company’s stock, valued at approximately $6,639,793.02. The disclosure for this sale can be found here. Insiders sold a total of 50,721 shares of company stock valued at $12,554,774 in the last three months. 2.70% of the stock is currently owned by corporate insiders.
IDXX stock traded down $0.40 during trading on Friday, hitting $266.76. The stock had a trading volume of 34,147 shares, compared to its average volume of 380,108. IDEXX Laboratories, Inc. has a 1-year low of $176.11 and a 1-year high of $271.34. The company has a market capitalization of $22.99 billion, a price-to-earnings ratio of 62.62 and a beta of 0.84. The company has a current ratio of 1.01, a quick ratio of 0.74 and a debt-to-equity ratio of 14.81.
IDEXX Laboratories (NASDAQ:IDXX) last announced its earnings results on Wednesday, May 1st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.13. IDEXX Laboratories had a net margin of 17.33% and a return on equity of 354,783.84%. The firm had revenue of $576.06 million during the quarter, compared to the consensus estimate of $575.04 million. During the same quarter in the previous year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, research analysts predict that IDEXX Laboratories, Inc. will post 4.82 earnings per share for the current year.
Several brokerages have recently issued reports on IDXX. Canaccord Genuity reduced their price target on shares of IDEXX Laboratories from $255.00 to $254.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Guggenheim assumed coverage on shares of IDEXX Laboratories in a report on Thursday, May 23rd. They issued a “buy” rating and a $276.00 price target for the company. Finally, BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $256.71.
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About IDEXX Laboratories
IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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