Royal Bank of Canada Has $32.87 Million Stake in IDEXX Laboratories, Inc. (IDXX)

Royal Bank of Canada cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 15.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 171,727 shares of the company’s stock after selling 30,833 shares during the quarter. Royal Bank of Canada owned 0.20% of IDEXX Laboratories worth $32,867,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of IDEXX Laboratories by 18.2% in the fourth quarter. Renaissance Technologies LLC now owns 1,879,804 shares of the company’s stock valued at $293,964,000 after purchasing an additional 290,004 shares during the period. Geode Capital Management LLC boosted its stake in shares of IDEXX Laboratories by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 954,584 shares of the company’s stock valued at $148,977,000 after purchasing an additional 16,313 shares during the period. Capital Counsel LLC NY boosted its stake in shares of IDEXX Laboratories by 1.3% in the fourth quarter. Capital Counsel LLC NY now owns 742,729 shares of the company’s stock valued at $116,148,000 after purchasing an additional 9,666 shares during the period. William Blair Investment Management LLC boosted its stake in shares of IDEXX Laboratories by 219.1% in the fourth quarter. William Blair Investment Management LLC now owns 728,725 shares of the company’s stock valued at $113,958,000 after purchasing an additional 500,359 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of IDEXX Laboratories by 15.1% in the first quarter. Wells Fargo & Company MN now owns 615,973 shares of the company’s stock valued at $117,891,000 after purchasing an additional 80,947 shares during the period. Institutional investors and hedge funds own 86.28% of the company’s stock.

NASDAQ IDXX opened at $212.74 on Thursday. IDEXX Laboratories, Inc. has a 12 month low of $146.09 and a 12 month high of $229.01. The company has a debt-to-equity ratio of -12.43, a quick ratio of 0.72 and a current ratio of 0.96. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of 64.86, a P/E/G ratio of 2.58 and a beta of 0.64.

IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Friday, May 4th. The company reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.09. IDEXX Laboratories had a net margin of 13.87% and a negative return on equity of 530.24%. The firm had revenue of $537.60 million for the quarter, compared to the consensus estimate of $525.14 million. During the same period in the prior year, the firm posted $0.77 EPS. The firm’s revenue was up 16.4% compared to the same quarter last year. research analysts expect that IDEXX Laboratories, Inc. will post 4.17 EPS for the current fiscal year.

In other news, VP Jacqueline Studer sold 475 shares of the firm’s stock in a transaction dated Wednesday, May 30th. The shares were sold at an average price of $209.98, for a total value of $99,740.50. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William T. End sold 9,470 shares of the firm’s stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $208.36, for a total transaction of $1,973,169.20. Following the completion of the transaction, the director now owns 31,786 shares in the company, valued at $6,622,930.96. The disclosure for this sale can be found here. Insiders have sold a total of 11,571 shares of company stock worth $2,405,215 over the last quarter. 2.56% of the stock is currently owned by insiders.

Several research analysts have recently weighed in on the stock. Credit Suisse Group upped their target price on shares of IDEXX Laboratories from $228.00 to $231.00 and gave the company an “outperform” rating in a research note on Thursday, June 21st. Zacks Investment Research upgraded shares of IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $255.00 target price for the company in a research note on Monday, June 18th. BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 15th. Canaccord Genuity reiterated a “positive” rating and set a $215.00 price objective on shares of IDEXX Laboratories in a research note on Monday, May 7th. Finally, Stifel Nicolaus increased their price objective on shares of IDEXX Laboratories from $215.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $222.43.

IDEXX Laboratories Profile

IDEXX Laboratories, Inc, together with its subsidiaries, develops, manufactures, and distributes products and services primarily for the companion animal veterinary, livestock and poultry, dairy, and water testing markets worldwide. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

Institutional Ownership by Quarter for IDEXX Laboratories (NASDAQ:IDXX)

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