Rebecca M. Henderson Sells 5,156 Shares of IDEXX Laboratories, Inc. (IDXX) Stock
IDEXX Laboratories, Inc. (NASDAQ:IDXX) Director Rebecca M. Henderson sold 5,156 shares of IDEXX Laboratories stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $153.29, for a total value of $790,363.24. Following the transaction, the director now owns 17,274 shares in the company, valued at approximately $2,647,931.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of IDEXX Laboratories, Inc. (IDXX) opened at 151.08 on Friday. IDEXX Laboratories, Inc. has a 12 month low of $102.45 and a 12 month high of $173.01. The firm has a market cap of $13.19 billion, a price-to-earnings ratio of 51.97 and a beta of 0.49. The company has a 50-day moving average price of $159.00 and a 200-day moving average price of $157.47.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data 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 business had revenue of $508.90 million for the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.74 EPS. Analysts forecast that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
IDEXX Laboratories announced that its Board of Directors has approved a share repurchase program on Wednesday, May 3rd that authorizes the company to repurchase 3,000,000 outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several hedge funds have recently modified their holdings of IDXX. BlackRock Inc. boosted its stake in shares of IDEXX Laboratories by 1,967.1% in the first quarter. BlackRock Inc. now owns 6,427,027 shares of the company’s stock worth $993,680,000 after buying an additional 6,116,102 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of IDEXX Laboratories by 24.3% in the first quarter. Vanguard Group Inc. now owns 8,910,555 shares of the company’s stock worth $1,377,660,000 after buying an additional 1,740,446 shares in the last quarter. Koch Industries Inc. boosted its stake in shares of IDEXX Laboratories by 44,533.1% in the second quarter. Koch Industries Inc. now owns 1,399,248 shares of the company’s stock worth $1,391,000 after buying an additional 1,396,113 shares in the last quarter. State Street Corp boosted its stake in shares of IDEXX Laboratories by 38.6% in the first quarter. State Street Corp now owns 3,911,739 shares of the company’s stock worth $604,793,000 after buying an additional 1,089,880 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of IDEXX Laboratories by 486.4% in the second quarter. Janus Henderson Group PLC now owns 1,131,902 shares of the company’s stock worth $182,711,000 after buying an additional 938,888 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
IDXX has been the topic of several recent analyst reports. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Canaccord Genuity reiterated a “buy” rating and set a $180.00 price objective on shares of IDEXX Laboratories in a report on Tuesday, June 13th. Stifel Nicolaus reiterated a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a report on Monday, August 21st. Finally, BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $174.00.
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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