Janney Montgomery Scott LLC Increases Position in IDEXX Laboratories, Inc. (IDXX)
Janney Montgomery Scott LLC boosted its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 25.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,922 shares of the company’s stock after buying an additional 792 shares during the period. Janney Montgomery Scott LLC’s holdings in IDEXX Laboratories were worth $633,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. 1st Global Advisors Inc. boosted its stake in IDEXX Laboratories by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 7,548 shares of the company’s stock valued at $1,167,000 after buying an additional 88 shares during the last quarter. Sei Investments Co. boosted its stake in IDEXX Laboratories by 76.6% in the first quarter. Sei Investments Co. now owns 20,277 shares of the company’s stock valued at $3,135,000 after buying an additional 8,792 shares during the last quarter. AXA boosted its stake in IDEXX Laboratories by 52.0% in the first quarter. AXA now owns 346,593 shares of the company’s stock valued at $53,587,000 after buying an additional 118,643 shares during the last quarter. Cutler Group LP boosted its stake in IDEXX Laboratories by 65.2% in the second quarter. Cutler Group LP now owns 3,800 shares of the company’s stock valued at $613,000 after buying an additional 1,500 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in IDEXX Laboratories by 0.3% in the first quarter. Stephens Investment Management Group LLC now owns 282,580 shares of the company’s stock valued at $43,690,000 after buying an additional 751 shares during the last quarter. Hedge funds and other institutional investors own 89.42% of the company’s stock.
IDEXX Laboratories, Inc. (IDXX) opened at 151.90 on Friday. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 52.25 and a beta of 0.49. The firm’s 50 day moving average price is $160.43 and its 200 day moving average price is $156.59. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same quarter in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.
IDEXX Laboratories declared that its board has authorized a share buyback plan on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.
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Several equities research analysts have commented on IDXX shares. BidaskClub cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $181.00 target price on the stock in a research note on Tuesday, April 25th. Canaccord Genuity restated a “buy” rating and issued a $180.00 target price (up previously from $165.00) on shares of IDEXX Laboratories in a research note on Friday, April 28th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $185.00 target price on shares of IDEXX Laboratories in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $173.80.
In other news, Chairman Jonathan W. Ayers sold 58,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total value of $8,990,000.00. Following the transaction, the chairman now owns 1,043,034 shares in the company, valued at $161,670,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the firm’s 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 completion of the transaction, the chairman now owns 1,032,994 shares in the company, valued at approximately $173,357,053.08. The disclosure for this sale can be found here. Insiders sold 151,572 shares of company stock worth $23,715,597 in the last 90 days. Corporate insiders own 2.77% of the company’s stock.
IDEXX Laboratories Company Profile
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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