Cambridge Investment Research Advisors Inc. boosted its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,507 shares of the company’s stock after buying an additional 1,236 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in IDEXX Laboratories were worth $2,826,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bronfman E.L. Rothschild L.P. increased its stake 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 worth $119,000 after buying an additional 17 shares during the last quarter. CAPROCK Group Inc. increased its stake in IDEXX Laboratories by 2.2% in the second quarter. CAPROCK Group Inc. now owns 1,830 shares of the company’s stock worth $295,000 after buying an additional 40 shares during the last quarter. Strs Ohio increased its stake in IDEXX Laboratories by 0.7% in the second quarter. Strs Ohio now owns 5,929 shares of the company’s stock worth $957,000 after buying an additional 41 shares during the last quarter. Fayez Sarofim & Co increased its stake in IDEXX Laboratories by 1.4% in the first quarter. Fayez Sarofim & Co now owns 3,500 shares of the company’s stock worth $541,000 after buying an additional 50 shares during the last quarter. Finally, HM Payson & Co. increased its stake in IDEXX Laboratories by 0.4% in the first quarter. HM Payson & Co. now owns 21,091 shares of the company’s stock worth $3,260,000 after buying an additional 85 shares during the last quarter. 87.69% of the stock is currently owned by institutional investors and hedge funds.

IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 150.32 on Wednesday. The stock has a market cap of $13.12 billion, a PE ratio of 51.71 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 company’s 50-day moving average price is $159.00 and its 200-day moving average price is $157.47.

IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.10. The business had revenue of $508.90 million during the quarter, compared to the consensus estimate 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 for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities analysts expect that IDEXX Laboratories, Inc. will post $3.18 EPS for the current fiscal year.

IDEXX Laboratories announced that its board has approved a share repurchase program on Wednesday, May 3rd that permits the company to buyback 3,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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A number of research firms have issued reports on IDXX. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $187.00 price objective on the stock in a research note on Monday, May 29th. Canaccord Genuity reaffirmed a “buy” rating and issued a $180.00 price objective on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Aegis began coverage on IDEXX Laboratories in a research note on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price objective on the stock. They noted that the move was a valuation call. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Finally, CL King raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $200.00 price objective on the stock in a research note on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $174.00.

In other news, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s 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 completion of the sale, the chairman now directly owns 1,043,034 shares in the company, valued at approximately $161,670,270. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Rebecca M. Henderson sold 2,578 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $152.86, for a total value of $394,073.08. Following the sale, the director now owns 17,274 shares of the company’s stock, valued at $2,640,503.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 138,734 shares of company stock valued at $21,476,356. Insiders own 2.77% of the company’s stock.

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.

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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