Columbus Circle Investors Has $91.87 Million Position in IDEXX Laboratories, Inc. (IDXX)
Columbus Circle Investors lowered its stake in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 569,104 shares of the company’s stock after selling 1,763 shares during the period. IDEXX Laboratories comprises approximately 1.5% of Columbus Circle Investors’ holdings, making the stock its 15th largest position. Columbus Circle Investors owned 0.65% of IDEXX Laboratories worth $91,865,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. increased its position in 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 in the last quarter. Capital Advisors Ltd. LLC bought a new position in IDEXX Laboratories during the second quarter valued at $128,000. Acrospire Investment Management LLC increased its position in 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 in the last quarter. Global X Management Co. LLC increased its position in 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 in the last quarter. Finally, Flagship Harbor Advisors LLC bought a new position in IDEXX Laboratories during the first quarter valued at $200,000. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
IDEXX Laboratories, Inc. (NASDAQ IDXX) opened at 150.44 on Monday. The company has a market cap of $13.13 billion, a P/E ratio of 51.75 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 firm has a 50-day moving average price of $160.14 and a 200 day moving average price of $156.81.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 company 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 posted $0.74 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Equities research analysts predict that IDEXX Laboratories, Inc. will post $3.18 EPS for the current year.
IDEXX Laboratories declared that its Board of Directors 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 often a sign that the company’s management believes its stock is undervalued.
Several research firms have recently weighed in on IDXX. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $182.00 target price on the stock in a research report on Wednesday, June 28th. Canaccord Genuity reissued a “buy” rating and set a $180.00 target price (up previously from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Aegis began coverage on IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 target price on the stock. They noted that the move was a valuation call. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $173.80.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 58,000 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total transaction of $8,990,000.00. Following the transaction, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was 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 directly owns 1,032,994 shares in the company, valued at $173,357,053.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,572 shares of company stock worth $22,902,847. 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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