IDEXX Laboratories, Inc. (IDXX) Position Trimmed by First Republic Investment Management Inc.
First Republic Investment Management Inc. decreased its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 254,619 shares of the company’s stock after selling 13,908 shares during the quarter. First Republic Investment Management Inc. owned 0.29% of IDEXX Laboratories worth $39,591,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. D.A. Davidson & CO. raised its stake in IDEXX Laboratories by 160.4% during the second quarter. D.A. Davidson & CO. now owns 625 shares of the company’s stock worth $100,000 after acquiring an additional 385 shares in the last quarter. Sun Life Financial INC raised its stake in IDEXX Laboratories by 9,085.7% during the second quarter. Sun Life Financial INC now owns 643 shares of the company’s stock worth $104,000 after acquiring an additional 636 shares in the last quarter. BB&T Investment Services Inc. acquired a new position in IDEXX Laboratories during the second quarter worth about $104,000. Coastline Trust Co acquired a new position in IDEXX Laboratories during the second quarter worth about $202,000. Finally, BB&T Securities LLC acquired a new position in IDEXX Laboratories during the third quarter worth about $213,000. 86.80% of the stock is owned by institutional investors and hedge funds.
In other news, insider Giovani Twigge sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $156.07, for a total value of $312,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $153.75, for a total value of $2,767,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,064,573 shares of the company’s stock, valued at approximately $163,678,098.75. The disclosure for this sale can be found here. Insiders sold 110,000 shares of company stock valued at $16,686,200 in the last ninety days. 2.77% of the stock is currently owned by insiders.
IDEXX Laboratories (NASDAQ:IDXX) last released its quarterly earnings data on Tuesday, October 31st. The company reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.05. IDEXX Laboratories had a negative return on equity of 336.64% and a net margin of 14.55%. The company had revenue of $492.00 million during the quarter, compared to the consensus estimate of $492.94 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. sell-side analysts forecast that IDEXX Laboratories, Inc. will post 3.24 EPS for the current year.
Several brokerages have commented on IDXX. Canaccord Genuity reissued a “buy” rating and set a $180.00 target price on shares of IDEXX Laboratories in a research note on Friday, October 6th. Bank of America raised IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a research note on Wednesday, August 23rd. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $184.00 target price for the company in a research note on Tuesday, October 24th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $185.00 target price on shares of IDEXX Laboratories in a research note on Tuesday, October 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $173.67.
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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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