Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,385 shares of the company’s stock, valued at approximately $369,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Acrospire Investment Management LLC increased its position in shares of IDEXX Laboratories by 496.5% in the first quarter. Acrospire Investment Management LLC now owns 841 shares of the company’s stock worth $130,000 after buying an additional 700 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of IDEXX Laboratories during the first quarter worth about $209,000. ARP Americas LLC acquired a new position in shares of IDEXX Laboratories during the first quarter worth about $222,000. Reynders McVeigh Capital Management LLC acquired a new position in shares of IDEXX Laboratories during the first quarter worth about $224,000. Finally, Atlas Brown Inc. acquired a new position in shares of IDEXX Laboratories during the first quarter worth about $225,000. Institutional investors own 89.06% of the company’s stock.
IDEXX Laboratories, Inc. (NASDAQ:IDXX) traded up 0.09% on Friday, hitting $160.71. The company’s stock had a trading volume of 1,120,919 shares. The firm has a market cap of $14.16 billion, a price-to-earnings ratio of 59.54 and a beta of 0.53. IDEXX Laboratories, Inc. has a 12 month low of $85.98 and a 12 month high of $173.01. The firm has a 50 day moving average of $164.46 and a 200 day moving average of $143.85.
IDEXX Laboratories (NASDAQ:IDXX) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.16. IDEXX Laboratories had a net margin of 13.47% and a negative return on equity of 706.91%. The firm had revenue of $462 million during the quarter, compared to the consensus estimate of $455.10 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that IDEXX Laboratories, Inc. will post $3.05 earnings per share for the current fiscal year.
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A number of brokerages recently issued reports on IDXX. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Canaccord Genuity restated a “buy” rating and set a $180.00 price target on shares of IDEXX Laboratories in a report on Tuesday. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $177.00 price target on the stock in a report on Tuesday. Aegis began coverage on IDEXX Laboratories in a report on Wednesday, May 31st. They set a “sell” rating and a $118.00 price target on the stock. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their target price on IDEXX Laboratories from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $165.00.
In other news, Director William T. End sold 5,000 shares of IDEXX Laboratories stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $162.55, for a total transaction of $812,750.00. Following the completion of the sale, the director now owns 45,256 shares of the company’s stock, valued at $7,356,362.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rebecca M. Henderson sold 1,700 shares of IDEXX Laboratories stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $159.95, for a total transaction of $271,915.00. Following the transaction, the director now directly owns 21,552 shares in the company, valued at $3,447,242.40. The disclosure for this sale can be found here. Insiders have sold 75,272 shares of company stock valued at $12,264,082 in the last ninety days. 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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