Insider Selling: Idexx Laboratories Inc. (IDXX) Chairman Sells $4,314,000.00 in Stock
Idexx Laboratories Inc. (NASDAQ:IDXX) Chairman Jonathan W. Ayers sold 40,000 shares of the business’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $107.85, for a total transaction of $4,314,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Idexx Laboratories Inc. (NASDAQ:IDXX) opened at 109.30 on Tuesday. Idexx Laboratories Inc. has a 52 week low of $63.48 and a 52 week high of $117.84. The company has a 50-day moving average of $110.43 and a 200-day moving average of $101.05. The firm has a market cap of $9.80 billion, a price-to-earnings ratio of 46.55 and a beta of 0.48.
Idexx Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, November 1st. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business earned $448.30 million during the quarter, compared to analysts’ expectations of $448.60 million. Idexx Laboratories had a net margin of 12.36% and a negative return on equity of 788.91%. The business’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period last year, the company posted $0.48 earnings per share. Equities research analysts forecast that Idexx Laboratories Inc. will post $2.38 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its stake in Idexx Laboratories by 4.0% in the first quarter. Geode Capital Management LLC now owns 576,331 shares of the company’s stock worth $45,138,000 after buying an additional 22,351 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Idexx Laboratories by 242.6% in the first quarter. Renaissance Technologies LLC now owns 437,504 shares of the company’s stock worth $34,265,000 after buying an additional 309,804 shares during the last quarter. Columbus Circle Investors raised its position in Idexx Laboratories by 7.0% in the second quarter. Columbus Circle Investors now owns 816,808 shares of the company’s stock worth $75,849,000 after buying an additional 53,560 shares during the period. Smith Asset Management Group LP acquired a new position in Idexx Laboratories during the second quarter worth $12,467,000. Finally, Welch & Forbes LLC raised its position in Idexx Laboratories by 0.6% in the second quarter. Welch & Forbes LLC now owns 198,190 shares of the company’s stock worth $18,404,000 after buying an additional 1,169 shares during the period. Institutional investors and hedge funds own 91.71% of the company’s stock.
Several research firms have recently weighed in on IDXX. Zacks Investment Research upgraded shares of Idexx Laboratories from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research note on Monday, July 25th. Canaccord Genuity restated a “buy” rating and set a $120.00 price objective on shares of Idexx Laboratories in a research note on Monday, August 22nd. Stifel Nicolaus restated a “buy” rating and set a $120.00 price objective (up from $92.00) on shares of Idexx Laboratories in a research note on Wednesday, August 3rd. Northcoast Research upgraded shares of Idexx Laboratories from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 3rd. Finally, Bank of America Corp. restated a “neutral” rating on shares of Idexx Laboratories in a research note on Thursday, September 29th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $105.20.
About Idexx Laboratories
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