Smith Asset Management Group LP lowered its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 190,634 shares of the company’s stock after selling 6,470 shares during the period. Smith Asset Management Group LP’s holdings in IDEXX Laboratories were worth $29,811,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of IDEXX Laboratories by 2.6% during the 2nd quarter. FMR LLC now owns 37,353 shares of the company’s stock worth $6,030,000 after purchasing an additional 934 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of IDEXX Laboratories during the 2nd quarter worth $376,000. Oakbrook Investments LLC lifted its stake in shares of IDEXX Laboratories by 27.0% during the 3rd quarter. Oakbrook Investments LLC now owns 4,230 shares of the company’s stock worth $658,000 after purchasing an additional 900 shares during the period. LS Investment Advisors LLC lifted its stake in shares of IDEXX Laboratories by 8.2% during the 3rd quarter. LS Investment Advisors LLC now owns 4,846 shares of the company’s stock worth $754,000 after purchasing an additional 368 shares during the period. Finally, APG Asset Management N.V. lifted its stake in shares of IDEXX Laboratories by 150.5% during the 3rd quarter. APG Asset Management N.V. now owns 215,200 shares of the company’s stock worth $33,461,000 after purchasing an additional 129,300 shares during the period. 86.02% of the stock is currently owned by hedge funds and other institutional investors.
Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at $183.86 on Friday. IDEXX Laboratories, Inc. has a twelve month low of $141.02 and a twelve month high of $198.73. The stock has a market capitalization of $16,025.37, a price-to-earnings ratio of 62.54, a P/E/G ratio of 2.26 and a beta of 0.58. The company has a debt-to-equity ratio of -11.26, a current ratio of 0.97 and a quick ratio of 0.80.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. IDEXX Laboratories had a negative return on equity of 432.19% and a net margin of 13.36%. The firm had revenue of $506.00 million during the quarter, compared to the consensus estimate of $490.51 million. During the same period in the prior year, the firm earned $0.58 EPS. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. equities analysts anticipate that IDEXX Laboratories, Inc. will post 4.09 earnings per share for the current year.
A number of brokerages have weighed in on IDXX. Canaccord Genuity reissued a “buy” rating and set a $210.00 price target on shares of IDEXX Laboratories in a research note on Monday, January 29th. BidaskClub raised IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “strong-buy” rating and set a $214.00 price target on the stock in a research note on Monday, February 5th. Piper Jaffray Companies increased their target price on IDEXX Laboratories to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 1st. Finally, Aegis reaffirmed a “sell” rating on shares of IDEXX Laboratories in a research report on Friday, December 8th. One investment analyst has rated the stock with a sell rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $194.00.
In related news, VP Brian P. Mckeon sold 6,602 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $181.36, for a total value of $1,197,338.72. Following the completion of the sale, the vice president now directly owns 47,040 shares in the company, valued at approximately $8,531,174.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Giovani Twigge sold 2,000 shares of the stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $156.07, for a total value of $312,140.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,762 shares of company stock valued at $15,202,484. 2.77% of the stock is owned by insiders.
WARNING: “Smith Asset Management Group LP Sells 6,470 Shares of IDEXX Laboratories, Inc. (IDXX)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally copied and republished in violation of US and international copyright law. The legal version of this report can be viewed at https://ledgergazette.com/2018/02/23/smith-asset-management-group-lp-sells-6470-shares-of-idexx-laboratories-inc-idxx.html.
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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