Kentucky Retirement Systems bought a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,728 shares of the company’s stock, valued at approximately $1,561,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake in IDEXX Laboratories by 155.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 102 shares of the company’s stock valued at $34,000 after buying an additional 62 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $36,000. Anderson Fisher LLC bought a new stake in shares of IDEXX Laboratories during the 2nd quarter valued at $36,000. Creative Financial Designs Inc. ADV purchased a new stake in IDEXX Laboratories during the 2nd quarter worth about $46,000. Finally, Key Financial Inc bought a new position in IDEXX Laboratories in the 1st quarter worth about $36,000. 87.01% of the stock is currently owned by institutional investors.
In other news, CFO Brian P. Mckeon sold 83,724 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $378.97, for a total transaction of $31,728,884.28. Following the completion of the transaction, the chief financial officer now directly owns 58,386 shares of the company’s stock, valued at $22,126,542.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bruce L. Claflin sold 1,111 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $378.08, for a total transaction of $420,046.88. Following the sale, the director now owns 304 shares of the company’s stock, valued at $114,936.32. The disclosure for this sale can be found here. Insiders sold 115,000 shares of company stock valued at $43,754,825 in the last quarter. Corporate insiders own 2.53% of the company’s stock.
IDXX stock opened at $391.06 on Tuesday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.02 and a current ratio of 1.44. The firm has a market cap of $32.66 billion, a P/E ratio of 73.92, a P/E/G ratio of 4.42 and a beta of 0.85. The firm’s fifty day moving average is $373.46 and its 200 day moving average is $302.73. IDEXX Laboratories, Inc. has a 52 week low of $168.65 and a 52 week high of $407.86.
IDEXX Laboratories (NASDAQ:IDXX) last released its earnings results on Friday, July 31st. The company reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.55. The company had revenue of $637.20 million during the quarter, compared to analyst estimates of $589.98 million. IDEXX Laboratories had a return on equity of 241.52% and a net margin of 18.59%. IDEXX Laboratories’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.43 EPS. As a group, analysts forecast that IDEXX Laboratories, Inc. will post 5.66 EPS for the current year.
A number of research firms have recently commented on IDXX. Stifel Nicolaus raised their price objective on shares of IDEXX Laboratories from $280.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Bank of America raised their price target on shares of IDEXX Laboratories from $300.00 to $390.00 and gave the company a “buy” rating in a report on Monday, July 20th. Credit Suisse Group upped their price target on shares of IDEXX Laboratories from $415.00 to $422.00 and gave the stock an “outperform” rating in a report on Monday, August 17th. Finally, BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 14th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $344.00.
IDEXX Laboratories Profile
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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