IDEXX Laboratories, Inc. (IDXX) Shares Sold by Neuberger Berman Group LLC
Neuberger Berman Group LLC lowered its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 10.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,782,366 shares of the company’s stock after selling 201,318 shares during the period. Neuberger Berman Group LLC owned about 2.04% of IDEXX Laboratories worth $287,710,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in IDEXX Laboratories by 178.5% in the first quarter. Wells Fargo & Company MN now owns 384,333 shares of the company’s stock worth $59,422,000 after buying an additional 246,325 shares in the last quarter. LaFleur & Godfrey LLC purchased a new position in IDEXX Laboratories during the first quarter worth $505,000. Sumitomo Mitsui Asset Management Company LTD raised its position in IDEXX Laboratories by 27.7% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 7,473 shares of the company’s stock worth $1,155,000 after buying an additional 1,619 shares in the last quarter. Reynders McVeigh Capital Management LLC purchased a new position in IDEXX Laboratories during the first quarter worth $224,000. Finally, Strs Ohio raised its position in IDEXX Laboratories by 9.5% in the first quarter. Strs Ohio now owns 5,888 shares of the company’s stock worth $910,000 after buying an additional 512 shares in the last quarter. 89.42% of the stock is owned by hedge funds and other institutional investors.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded down 0.98% on Friday, hitting $151.08. 525,967 shares of the stock traded hands. The firm’s 50 day moving average is $159.00 and its 200 day moving average is $157.47. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01. The stock has a market cap of $13.19 billion, a price-to-earnings ratio of 51.97 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. The company had revenue of $508.90 million during the quarter, compared to analyst estimates of $502.44 million. IDEXX Laboratories had a net margin of 14.13% and a negative return on equity of 473.46%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.74 earnings per share. Equities analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.
IDEXX Laboratories announced that its board has approved a stock buyback plan on Wednesday, May 3rd that allows the company to buyback 3,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.
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A number of research analysts have weighed in on the stock. Aegis assumed coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They set a “sell” rating and a $118.00 target price for the company. They noted that the move was a valuation call. Stifel Nicolaus boosted their target price on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 target price for the company in a research report on Monday, May 29th. BidaskClub raised shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Finally, CL King raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 target price for the company in a research report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. IDEXX Laboratories presently has an average rating of “Hold” and a consensus price target of $174.00.
In other IDEXX Laboratories news, Director Lawrence D. Kingsley acquired 2,000 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were acquired at an average cost of $151.76 per share, with a total value of $303,520.00. Following the completion of the acquisition, the director now directly owns 3,344 shares in the company, valued at $507,485.44. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $155.00, for a total transaction of $8,990,000.00. Following the sale, the chairman now directly owns 1,043,034 shares in the company, valued at $161,670,270. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,306 shares of company stock worth $24,087,283. 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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