IDEXX Laboratories, Inc. (IDXX) Holdings Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 2.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,104,687 shares of the company’s stock after selling 31,074 shares during the quarter. Bank of New York Mellon Corp’s holdings in IDEXX Laboratories were worth $240,754,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. FDx Advisors Inc. purchased a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $210,000. Wells Fargo & Company MN raised its holdings in shares of IDEXX Laboratories by 15.1% during the 1st quarter. Wells Fargo & Company MN now owns 615,973 shares of the company’s stock valued at $117,891,000 after buying an additional 80,947 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of IDEXX Laboratories by 13.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,945 shares of the company’s stock valued at $564,000 after buying an additional 346 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its holdings in shares of IDEXX Laboratories by 200.4% during the 1st quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 12,556 shares of the company’s stock valued at $2,360,000 after buying an additional 8,376 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in shares of IDEXX Laboratories during the 1st quarter valued at about $3,143,000. 86.85% of the stock is owned by institutional investors and hedge funds.

In other IDEXX Laboratories news, Director Bruce L. Claflin acquired 415 shares of the stock in a transaction on Friday, August 3rd. The stock was purchased at an average price of $242.12 per share, for a total transaction of $100,479.80. Following the purchase, the director now directly owns 1,415 shares in the company, valued at $342,599.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jacqueline Studer sold 475 shares of the firm’s stock in a transaction that occurred on Wednesday, May 30th. The shares were sold at an average price of $209.98, for a total value of $99,740.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,699 shares of company stock valued at $2,515,943. 2.56% of the stock is owned by insiders.

Shares of NASDAQ IDXX opened at $243.26 on Friday. IDEXX Laboratories, Inc. has a fifty-two week low of $146.09 and a fifty-two week high of $252.49. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of -14.77. The company has a market cap of $21.09 billion, a price-to-earnings ratio of 74.16, a price-to-earnings-growth ratio of 2.22 and a beta of 0.69.

IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The firm had revenue of $580.75 million during the quarter, compared to analyst estimates of $574.68 million. During the same quarter last year, the firm earned $0.87 EPS. IDEXX Laboratories’s quarterly revenue was up 14.1% on a year-over-year basis. equities analysts expect that IDEXX Laboratories, Inc. will post 4.18 earnings per share for the current fiscal year.

Several brokerages recently commented on IDXX. Zacks Investment Research upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $274.00 target price on the stock in a report on Thursday, August 2nd. Piper Jaffray Companies raised their target price on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a report on Wednesday, August 1st. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Stifel Nicolaus raised their target price on IDEXX Laboratories from $225.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, July 10th. Finally, ValuEngine upgraded IDEXX Laboratories from a “hold” rating to a “buy” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $239.33.

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. It operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.

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

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