Capital Counsel LLC NY reduced its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 508,481 shares of the company’s stock after selling 7,984 shares during the quarter. IDEXX Laboratories accounts for 16.1% of Capital Counsel LLC NY’s investment portfolio, making the stock its largest position. Capital Counsel LLC NY owned 0.60% of IDEXX Laboratories worth $321,131,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of IDEXX Laboratories by 5.6% in the 2nd quarter. BlackRock Inc. now owns 8,274,891 shares of the company’s stock worth $5,226,006,000 after acquiring an additional 437,365 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of IDEXX Laboratories by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 1,626,511 shares of the company’s stock worth $794,191,000 after acquiring an additional 47,752 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of IDEXX Laboratories by 7.4% in the 1st quarter. Franklin Resources Inc. now owns 1,220,880 shares of the company’s stock worth $597,387,000 after acquiring an additional 83,615 shares during the last quarter. American Century Companies Inc. increased its stake in IDEXX Laboratories by 0.4% during the 2nd quarter. American Century Companies Inc. now owns 1,113,764 shares of the company’s stock worth $703,398,000 after buying an additional 4,639 shares during the period. Finally, Brown Advisory Inc. increased its stake in IDEXX Laboratories by 5.8% during the 1st quarter. Brown Advisory Inc. now owns 906,644 shares of the company’s stock worth $443,630,000 after buying an additional 49,461 shares during the period. Hedge funds and other institutional investors own 84.70% of the company’s stock.
Several brokerages recently weighed in on IDXX. Guggenheim downgraded shares of IDEXX Laboratories from a “buy” rating to a “neutral” rating in a research note on Monday, July 12th. The Goldman Sachs Group upped their target price on shares of IDEXX Laboratories from $550.00 to $610.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 3rd. Barclays upped their target price on shares of IDEXX Laboratories from $616.00 to $750.00 and gave the stock an “overweight” rating in a research note on Monday, August 2nd. Finally, Credit Suisse Group upped their target price on shares of IDEXX Laboratories from $735.00 to $770.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $643.80.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings data on Friday, July 30th. The company reported $2.34 EPS for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.33. IDEXX Laboratories had a net margin of 23.89% and a return on equity of 115.28%. The company had revenue of $826.14 million for the quarter, compared to the consensus estimate of $794.64 million. During the same period in the prior year, the firm posted $1.72 EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. Analysts forecast that IDEXX Laboratories, Inc. will post 8.35 EPS for the current year.
In related news, SVP Kathy V. Turner sold 2,250 shares of the stock in a transaction on Monday, August 30th. The shares were sold at an average price of $687.22, for a total value of $1,546,245.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Kathy V. Turner sold 276 shares of the stock in a transaction on Friday, August 27th. The stock was sold at an average price of $678.00, for a total transaction of $187,128.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,886 shares of company stock worth $18,646,894. Insiders own 2.06% of the company’s stock.
IDEXX Laboratories Profile
IDEXX Laboratories, Inc engages in the development, manufacture, and distribution of products and services for the animal veterinary, livestock and poultry, dairy and water testing markets. It operates through the following segments: CAG, Water, LPD, and Other. The CAG segment develops, designs, manufactures, and distributes products and performs services for veterinarians and the biomedical analytics market, primarily related to diagnostics and information management.
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