Sandhill Capital Partners LLC Has $14.10 Million Holdings in IDEXX Laboratories, Inc. (IDXX)
Sandhill Capital Partners LLC decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 19.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 87,354 shares of the company’s stock after selling 20,699 shares during the quarter. IDEXX Laboratories comprises approximately 3.0% of Sandhill Capital Partners LLC’s investment portfolio, making the stock its 19th largest position. Sandhill Capital Partners LLC owned approximately 0.10% of IDEXX Laboratories worth $14,101,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in IDEXX Laboratories by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 9,264,579 shares of the company’s stock worth $1,495,488,000 after purchasing an additional 354,024 shares during the last quarter. BlackRock Inc. raised its holdings in IDEXX Laboratories by 10.5% during the 2nd quarter. BlackRock Inc. now owns 7,100,374 shares of the company’s stock worth $1,146,142,000 after purchasing an additional 673,347 shares during the last quarter. State Street Corp raised its holdings in IDEXX Laboratories by 38.6% during the 1st quarter. State Street Corp now owns 3,911,739 shares of the company’s stock worth $604,793,000 after purchasing an additional 1,089,880 shares during the last quarter. Renaissance Technologies LLC raised its holdings in IDEXX Laboratories by 38.6% during the 2nd quarter. Renaissance Technologies LLC now owns 1,351,900 shares of the company’s stock worth $218,224,000 after purchasing an additional 376,300 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in IDEXX Laboratories by 41.6% during the 1st quarter. Geode Capital Management LLC now owns 921,279 shares of the company’s stock worth $142,250,000 after purchasing an additional 270,871 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded down 1.262% during mid-day trading on Thursday, hitting $154.475. 107,105 shares of the stock traded hands. The stock has a market cap of $13.48 billion, a price-to-earnings ratio of 53.139 and a beta of 0.49. The firm’s 50-day moving average is $154.86 and its 200-day moving average is $159.27. 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 earnings results on Tuesday, August 1st. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.10. The company 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 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 company earned $0.74 earnings per share. On average, analysts forecast that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.
In related news, Director Rebecca M. Henderson sold 2,578 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $152.86, for a total transaction of $394,073.08. Following the completion of the transaction, the director now owns 17,274 shares in the company, valued at $2,640,503.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $150.79, for a total value of $1,960,270.00. Following the transaction, the chairman now owns 1,044,034 shares of the company’s stock, valued at approximately $157,429,886.86. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 151,734 shares of company stock valued at $23,436,626. 2.77% of the stock is owned by corporate insiders.
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Several analysts have recently commented on IDXX shares. Stifel Nicolaus reaffirmed a “buy” rating and set a $185.00 price objective on shares of IDEXX Laboratories in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 price objective for the company in a research report on Tuesday, June 13th. Canaccord Genuity reaffirmed a “buy” rating and set a $180.00 price objective on shares of IDEXX Laboratories in a research report on Tuesday, June 13th. Bank of America Corporation raised shares of IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price objective for the company in a research report on Wednesday, August 23rd. Finally, BidaskClub downgraded shares of IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target 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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