Peloton Wealth Strategists trimmed its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 3.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,507 shares of the company’s stock after selling 572 shares during the quarter. IDEXX Laboratories accounts for 2.1% of Peloton Wealth Strategists’ portfolio, making the stock its 18th biggest holding. Peloton Wealth Strategists’ holdings in IDEXX Laboratories were worth $2,665,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. 1st Global Advisors Inc. boosted its holdings in IDEXX Laboratories by 1.2% in the first quarter. 1st Global Advisors Inc. now owns 7,548 shares of the company’s stock worth $1,167,000 after acquiring an additional 88 shares in the last quarter. Sei Investments Co. boosted its holdings in IDEXX Laboratories by 76.6% in the first quarter. Sei Investments Co. now owns 20,277 shares of the company’s stock worth $3,135,000 after acquiring an additional 8,792 shares in the last quarter. AXA boosted its holdings in IDEXX Laboratories by 52.0% in the first quarter. AXA now owns 346,593 shares of the company’s stock worth $53,587,000 after acquiring an additional 118,643 shares in the last quarter. Pitcairn Co. boosted its holdings in IDEXX Laboratories by 21.8% in the second quarter. Pitcairn Co. now owns 6,977 shares of the company’s stock worth $1,126,000 after acquiring an additional 1,249 shares in the last quarter. Finally, Cutler Group LP boosted its holdings in IDEXX Laboratories by 65.2% in the second quarter. Cutler Group LP now owns 3,800 shares of the company’s stock worth $613,000 after acquiring an additional 1,500 shares in the last quarter. 87.73% of the stock is currently owned by institutional investors and hedge funds.
IDEXX Laboratories, Inc. (IDXX) traded down 0.72% on Tuesday, hitting $159.08. The stock had a trading volume of 53,755 shares. The firm has a market cap of $13.88 billion, a PE ratio of 54.72 and a beta of 0.49. IDEXX Laboratories, Inc. has a 52-week low of $102.45 and a 52-week high of $173.01. The company has a 50-day moving average price of $155.98 and a 200 day moving average price of $158.63.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.95 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.10. The firm had revenue of $508.90 million during the quarter, compared to analysts’ expectations of $502.44 million. IDEXX Laboratories had a negative return on equity of 473.46% and a net margin of 14.13%. The business’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. Equities analysts forecast that IDEXX Laboratories, Inc. will post $3.18 earnings per share for the current fiscal year.
Several equities research analysts have commented on IDXX shares. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Canaccord Genuity restated a “buy” rating and issued a $180.00 price target on shares of IDEXX Laboratories in a research note on Tuesday, June 13th. Stifel Nicolaus restated a “buy” rating and issued a $185.00 price target on shares of IDEXX Laboratories in a research note on Monday, August 21st. Finally, BidaskClub upgraded IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $174.00.
In other news, Chairman Jonathan W. Ayers sold 58,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $155.00, for a total value of $8,990,000.00. Following the completion of the sale, the chairman now owns 1,043,034 shares of the company’s stock, valued at approximately $161,670,270. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan W. Ayers sold 20,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $154.62, for a total value of $3,092,400.00. Following the completion of the sale, the chief executive officer now directly owns 1,043,034 shares of the company’s stock, valued at approximately $161,273,917.08. The disclosure for this sale can be found here. Insiders sold a total of 151,734 shares of company stock valued at $23,436,626 in the last three months. 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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