American Century Companies Inc. cut its stake in IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 28.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 591,617 shares of the company’s stock after selling 239,230 shares during the quarter. American Century Companies Inc.’s holdings in IDEXX Laboratories were worth $147,703,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of IDXX. Allianz Asset Management GmbH boosted its position in shares of IDEXX Laboratories by 11.9% in the first quarter. Allianz Asset Management GmbH now owns 81,713 shares of the company’s stock worth $15,639,000 after buying an additional 8,664 shares during the period. IFM Investors Pty Ltd boosted its position in shares of IDEXX Laboratories by 50.0% in the second quarter. IFM Investors Pty Ltd now owns 3,871 shares of the company’s stock worth $844,000 after buying an additional 1,291 shares during the period. State of Alaska Department of Revenue boosted its position in shares of IDEXX Laboratories by 21.8% in the second quarter. State of Alaska Department of Revenue now owns 19,335 shares of the company’s stock worth $4,213,000 after buying an additional 3,460 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of IDEXX Laboratories in the second quarter worth $888,000. Finally, Daiwa SB Investments Ltd. boosted its position in shares of IDEXX Laboratories by 21.9% in the second quarter. Daiwa SB Investments Ltd. now owns 4,390 shares of the company’s stock worth $957,000 after buying an additional 790 shares during the period. Institutional investors and hedge funds own 91.27% of the company’s stock.
In other IDEXX Laboratories news, Chairman Jonathan W. Ayers sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $245.50, for a total transaction of $7,365,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jonathan W. Ayers sold 7,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The shares were sold at an average price of $247.33, for a total value of $1,731,310.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,844 shares of company stock worth $15,742,129. Corporate insiders own 2.56% of the company’s stock.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.08. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. The company had revenue of $545.00 million for the quarter, compared to analyst estimates of $545.66 million. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. As a group, analysts predict that IDEXX Laboratories, Inc. will post 4.19 EPS for the current year.
Several brokerages have recently commented on IDXX. BidaskClub raised IDEXX Laboratories from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 1st. Zacks Investment Research lowered IDEXX Laboratories from a “buy” rating to a “hold” rating in a report on Monday, August 6th. Credit Suisse Group increased their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a report on Friday, August 17th. Piper Jaffray Companies increased their price objective on IDEXX Laboratories to $236.00 and gave the stock an “overweight” rating in a report on Wednesday, August 1st. Finally, Bank of America cut their price objective on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating for the company in a report on Friday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $252.33.
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IDEXX Laboratories Company Profile
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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