Pictet Asset Management Ltd. Has $21.52 Million Position in IDEXX Laboratories, Inc. (NASDAQ:IDXX)

Pictet Asset Management Ltd. boosted its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.8% during the second quarter, Holdings Channel reports. The institutional investor owned 127,817 shares of the company’s stock after buying an additional 6,991 shares during the period. Pictet Asset Management Ltd.’s holdings in IDEXX Laboratories were worth $21,523,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of IDEXX Laboratories by 1,967.1% in the first 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 shares of IDEXX Laboratories by 24.3% in the first 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 shares of IDEXX Laboratories by 38.6% in the first 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. Renaissance Technologies LLC increased its stake in shares of IDEXX Laboratories by 59.1% in the first 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. Finally, Goldman Sachs Group Inc. increased its stake in shares of IDEXX Laboratories by 64.9% in the first quarter. Goldman Sachs Group Inc. now owns 887,703 shares of the company’s stock worth $137,248,000 after buying an additional 349,344 shares in the last quarter. Institutional investors and hedge funds own 89.80% of the company’s stock.

Shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) opened at 153.02 on Friday. The company’s 50-day moving average price is $161.67 and its 200-day moving average price is $155.62. IDEXX Laboratories, Inc. has a 1-year low of $102.45 and a 1-year high of $173.01. The company has a market capitalization of $13.35 billion, a PE ratio of 52.64 and a beta of 0.49.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.10. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The firm had revenue of $508.90 million for the quarter, compared to analyst estimates of $502.44 million. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts expect that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.

IDEXX Laboratories declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 3rd that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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A number of analysts recently weighed in on IDXX shares. Zacks Investment Research downgraded shares of IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, June 12th. BidaskClub upgraded shares of IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Stifel Nicolaus increased their price target on shares of IDEXX Laboratories from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, May 1st. Canaccord Genuity reiterated a “buy” rating and issued a $180.00 price target (up from $165.00) on shares of IDEXX Laboratories in a research report on Friday, April 28th. Finally, Aegis started coverage on shares of IDEXX Laboratories in a research report on Wednesday, May 31st. They issued a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $173.80.

In other IDEXX Laboratories news, Director William T. End sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $162.55, for a total value of $812,750.00. Following the transaction, the director now directly owns 45,256 shares of the company’s stock, valued at $7,356,362.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Jonathan W. Ayers sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $167.82, for a total value of $2,181,660.00. Following the completion of the transaction, the chairman now directly owns 1,032,994 shares in the company, valued at $173,357,053.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,572 shares of company stock worth $8,844,817. Insiders own 2.77% of the company’s stock.

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

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