Teachers Retirement System of The State of Kentucky reduced its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,600 shares of the company’s stock after selling 500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in IDEXX Laboratories were worth $2,147,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC acquired a new position in IDEXX Laboratories during the second quarter worth about $134,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in IDEXX Laboratories by 144.3% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 618 shares of the company’s stock worth $154,000 after acquiring an additional 365 shares during the period. Rehmann Capital Advisory Group grew its holdings in IDEXX Laboratories by 44.9% during the second quarter. Rehmann Capital Advisory Group now owns 668 shares of the company’s stock worth $146,000 after acquiring an additional 207 shares during the period. HMS Capital Management LLC acquired a new position in IDEXX Laboratories during the third quarter worth about $205,000. Finally, Financial Counselors Inc. acquired a new position in IDEXX Laboratories during the third quarter worth about $216,000. 91.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on IDXX shares. Zacks Investment Research raised 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. BidaskClub lowered IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 31st. Canaccord Genuity lowered their target price on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Monday, November 5th. Bank of America lowered their target price on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, Credit Suisse Group lifted their price target on IDEXX Laboratories from $255.00 to $259.00 and gave the stock an “outperform” rating in a research note on Friday, August 17th. One equities 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 company. IDEXX Laboratories presently has an average rating of “Buy” and an average price target of $252.33.
Shares of IDXX opened at $192.65 on Friday. The stock has a market capitalization of $16.61 billion, a P/E ratio of 58.73, a P/E/G ratio of 2.44 and a beta of 0.82. IDEXX Laboratories, Inc. has a 1-year low of $151.74 and a 1-year high of $256.22.
IDEXX Laboratories (NASDAQ:IDXX) last issued its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08. The firm had revenue of $545.00 million for the quarter, compared to analysts’ expectations of $545.66 million. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. IDEXX Laboratories’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business posted $0.76 EPS. As a group, analysts expect that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current fiscal year.
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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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