Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,089 shares of the company’s stock, valued at approximately $690,000.
Several other large investors have also recently modified their holdings of IDXX. Kentucky Retirement Systems bought a new stake in IDEXX Laboratories during the 2nd quarter valued at $1,561,000. Citizens Financial Group Inc RI increased its position in shares of IDEXX Laboratories by 53.5% during the second quarter. Citizens Financial Group Inc RI now owns 525 shares of the company’s stock worth $173,000 after acquiring an additional 183 shares in the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of IDEXX Laboratories in the 2nd quarter worth about $280,000. Algert Global LLC lifted its position in IDEXX Laboratories by 6.3% in the 2nd quarter. Algert Global LLC now owns 5,840 shares of the company’s stock valued at $1,928,000 after acquiring an additional 347 shares in the last quarter. Finally, Cibc World Markets Corp boosted its stake in IDEXX Laboratories by 3.4% during the 2nd quarter. Cibc World Markets Corp now owns 13,823 shares of the company’s stock valued at $4,564,000 after purchasing an additional 457 shares during the last quarter. 87.01% of the stock is currently owned by institutional investors.
In related news, CFO Brian P. Mckeon sold 83,724 shares of IDEXX Laboratories stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $378.97, for a total value of $31,728,884.28. Following the completion of the transaction, the chief financial officer now directly owns 58,386 shares in the company, valued at approximately $22,126,542.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Nimrata Hunt sold 2,776 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $377.50, for a total transaction of $1,047,940.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,000 shares of company stock worth $43,754,825. Insiders own 2.53% of the company’s stock.
NASDAQ:IDXX opened at $391.06 on Tuesday. IDEXX Laboratories, Inc. has a 12 month low of $168.65 and a 12 month high of $407.86. The company has a current ratio of 1.44, a quick ratio of 1.02 and a debt-to-equity ratio of 3.29. The firm’s 50 day moving average is $373.46 and its 200 day moving average is $302.73. The stock has a market capitalization of $32.66 billion, a PE ratio of 73.92, a price-to-earnings-growth ratio of 4.42 and a beta of 0.85.
IDEXX Laboratories (NASDAQ:IDXX) last issued its earnings results on Friday, July 31st. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.55. The firm had revenue of $637.20 million for 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%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.43 earnings per share. Research analysts predict that IDEXX Laboratories, Inc. will post 5.66 earnings per share for the current year.
A number of research analysts have recently weighed in on IDXX shares. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, August 14th. Credit Suisse Group lifted their price objective 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. Bank of America increased their target price 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. Finally, Stifel Nicolaus lifted their target price on shares of IDEXX Laboratories from $280.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $344.00.
IDEXX Laboratories Company 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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