Diversified Trust Co boosted its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 58.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,010 shares of the company’s stock after buying an additional 371 shares during the quarter. Diversified Trust Co’s holdings in IDEXX Laboratories were worth $397,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Fred Alger Management LLC lifted its stake in IDEXX Laboratories by 12.8% in the 1st quarter. Fred Alger Management LLC now owns 2,263 shares of the company’s stock valued at $548,000 after buying an additional 257 shares in the last quarter. Meridian Wealth Management LLC purchased a new position in IDEXX Laboratories in the 2nd quarter valued at about $222,000. Jefferies Group LLC lifted its stake in IDEXX Laboratories by 201.5% in the 2nd quarter. Jefferies Group LLC now owns 8,200 shares of the company’s stock valued at $2,707,000 after buying an additional 5,480 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new position in IDEXX Laboratories in the 2nd quarter valued at about $36,000. Finally, Assenagon Asset Management S.A. lifted its stake in IDEXX Laboratories by 126.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 11,527 shares of the company’s stock valued at $4,531,000 after buying an additional 6,436 shares in the last quarter. 87.01% of the stock is currently owned by hedge funds and other institutional investors.
IDXX has been the topic of a number of research reports. Stifel Nicolaus raised their price target on shares of IDEXX Laboratories from $280.00 to $375.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Credit Suisse Group raised their target price on shares of IDEXX Laboratories from $415.00 to $422.00 and gave the stock an “outperform” rating in a research note on Monday, August 17th. Bank of America raised their target price on shares of IDEXX Laboratories from $300.00 to $390.00 and gave the stock a “buy” rating in a research note on Monday, July 20th. Finally, BidaskClub raised shares of IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. IDEXX Laboratories currently has an average rating of “Buy” and an average target price of $357.40.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.55. The business had revenue of $637.20 million during the quarter, compared to the consensus estimate of $589.98 million. IDEXX Laboratories had a net margin of 18.59% and a return on equity of 241.52%. The business’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.43 EPS. On average, equities analysts anticipate that IDEXX Laboratories, Inc. will post 5.72 earnings per share for the current fiscal year.
In other news, EVP Nimrata Hunt sold 2,776 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $377.50, for a total transaction of $1,047,940.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brian P. Mckeon sold 83,724 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $378.97, for a total transaction of $31,728,884.28. Following the sale, the chief financial officer now owns 58,386 shares of the company’s stock, valued at approximately $22,126,542.42. The disclosure for this sale can be found here. Insiders have sold a total of 122,316 shares of company stock valued at $46,594,823 in the last 90 days. Insiders own 2.53% of the company’s stock.
About IDEXX Laboratories
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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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