Hills Bank & Trust Co. Decreases Stake in IDEXX Laboratories, Inc. (IDXX)
Hills Bank & Trust Co. lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 6.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,683 shares of the company’s stock after selling 110 shares during the period. Hills Bank & Trust Co.’s holdings in IDEXX Laboratories were worth $272,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in shares of IDEXX Laboratories by 2.3% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 770 shares of the company’s stock valued at $119,000 after buying an additional 17 shares during the last quarter. Acrospire Investment Management LLC raised its position in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock valued at $130,000 after buying an additional 700 shares during the last quarter. Global X Management Co. LLC raised its position in shares of IDEXX Laboratories by 44.6% in the first quarter. Global X Management Co. LLC now owns 1,047 shares of the company’s stock valued at $162,000 after buying an additional 323 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of IDEXX Laboratories during the first quarter valued at $200,000. Finally, Highbridge Capital Management LLC bought a new position in shares of IDEXX Laboratories during the fourth quarter valued at $208,000. Institutional investors own 89.12% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ IDXX) traded down 0.97% during mid-day trading on Friday, hitting $152.60. 464,850 shares of the stock traded hands. The firm has a market cap of $13.32 billion, a PE ratio of 52.49 and a beta of 0.49. IDEXX Laboratories, Inc. has a 12-month low of $102.45 and a 12-month high of $173.01. The stock has a 50 day moving average price of $163.95 and a 200 day moving average price of $154.43.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The company had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The business’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS. On average, analysts expect that IDEXX Laboratories, Inc. will post $3.16 earnings per share for the current fiscal year.
IDEXX Laboratories declared that its board has authorized a stock repurchase program on Wednesday, May 3rd that permits the company to repurchase 3,000,000 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.
Several research analysts have weighed in on IDXX shares. BidaskClub lowered shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research report on Tuesday, June 13th. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 price target on the stock in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus increased their price target on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. IDEXX Laboratories currently has a consensus rating of “Hold” and an average target price of $173.80.
In other news, Chairman Jonathan W. Ayers sold 13,000 shares of IDEXX Laboratories stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total value of $2,181,660.00. Following the transaction, the chairman now directly owns 1,032,994 shares of the company’s stock, valued at $173,357,053.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence D. Kingsley bought 2,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The stock was purchased at an average cost of $151.76 per share, for a total transaction of $303,520.00. Following the completion of the transaction, the director now owns 3,344 shares of the company’s stock, valued at $507,485.44. The disclosure for this purchase can be found here. Over the last three months, insiders sold 47,572 shares of company stock worth $7,816,307. 2.77% of the stock is currently owned by 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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