Menta Capital LLC lessened its holdings in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,391 shares of the company’s stock after selling 2,120 shares during the period. Menta Capital LLC’s holdings in IDEXX Laboratories were worth $1,839,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of IDXX. BlackRock Inc. increased its stake in IDEXX Laboratories by 1,967.1% in the 1st 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. increased its stake in IDEXX Laboratories by 24.3% in the 1st 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. State Street Corp increased its stake in IDEXX Laboratories by 38.6% in the 1st 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. Old Mutual Global Investors UK Ltd. purchased a new stake in IDEXX Laboratories in the 2nd quarter worth $83,723,000. Finally, Renaissance Technologies LLC increased its stake in IDEXX Laboratories by 59.1% in the 1st quarter. Renaissance Technologies LLC now owns 975,600 shares of the company’s stock worth $150,838,000 after buying an additional 362,400 shares in the last quarter. Institutional investors and hedge funds own 87.64% of the company’s stock.
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Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 155.76 on Friday. The firm has a 50-day moving average price of $154.86 and a 200-day moving average price of $159.27. IDEXX Laboratories, Inc. has a 52 week low of $102.45 and a 52 week high of $173.01. The stock has a market cap of $13.59 billion, a price-to-earnings ratio of 53.58 and a beta of 0.49.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share 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 net margin of 14.13% and a negative return on equity of 473.46%. The company’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current year.
In other IDEXX Laboratories news, CEO Jonathan W. Ayers sold 18,000 shares of the company’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $154.91, for a total value of $2,788,380.00. Following the completion of the transaction, the chief executive officer now owns 1,043,034 shares in the company, valued at $161,576,396.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Jonathan W. Ayers sold 58,000 shares of the company’s stock in a transaction dated 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 transaction, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The disclosure for this sale can be found here. In the last quarter, insiders sold 151,734 shares of company stock valued at $23,436,626. Insiders own 2.77% of the company’s stock.
A number of brokerages have issued reports on IDXX. Stifel Nicolaus reiterated a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research note on Wednesday, August 2nd. Zacks Investment Research lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Bank of America Corporation upgraded IDEXX Laboratories from a “neutral” rating to a “buy” rating and set a $175.00 price target for the company in a research note on Wednesday, August 23rd. Finally, BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 13th. Two 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 stock presently has a consensus rating of “Hold” and a consensus target price of $174.00.
IDEXX Laboratories Company Profile
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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