Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 144.3% during the third quarter, HoldingsChannel reports. The firm owned 618 shares of the company’s stock after buying an additional 365 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in IDEXX Laboratories were worth $154,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of IDXX. Fundsmith Equity Fund L.P. acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $965,278,000. Morgan Stanley increased its position in shares of IDEXX Laboratories by 9.5% in the 2nd quarter. Morgan Stanley now owns 382,085 shares of the company’s stock valued at $83,271,000 after acquiring an additional 33,000 shares during the period. Oppenheimer & Co. Inc. increased its position in shares of IDEXX Laboratories by 25.3% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 2,600 shares of the company’s stock valued at $567,000 after acquiring an additional 525 shares during the period. Bank of Montreal Can increased its position in shares of IDEXX Laboratories by 10.4% in the 3rd quarter. Bank of Montreal Can now owns 186,115 shares of the company’s stock valued at $46,466,000 after acquiring an additional 17,482 shares during the period. Finally, Eqis Capital Management Inc. acquired a new position in shares of IDEXX Laboratories in the 2nd quarter valued at $2,610,000. 91.71% of the stock is currently owned by institutional investors and hedge funds.
IDXX has been the topic of several research reports. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, September 11th. Zacks Investment Research downgraded IDEXX Laboratories from a “buy” rating to a “hold” rating in a research report on Monday, August 6th. Credit Suisse Group upped their target price on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research report on Friday, August 17th. Bank of America cut their target price on IDEXX Laboratories from $275.00 to $235.00 and set a “buy” rating on the stock in a research report on Friday, November 2nd. Finally, Canaccord Genuity cut their target price on IDEXX Laboratories from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Monday, November 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $252.33.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, November 1st. The company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.08. The company had revenue of $545.00 million for the quarter, compared to the consensus estimate of $545.66 million. IDEXX Laboratories had a negative return on equity of 994.76% and a net margin of 15.19%. The firm’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS. Equities analysts anticipate that IDEXX Laboratories, Inc. will post 4.19 earnings per share for the current fiscal year.
In other IDEXX Laboratories news, VP Jacqueline Studer sold 3,313 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $201.27, for a total transaction of $666,807.51. The sale was disclosed in a filing with the SEC, which is available through this link. 2.56% of the stock is currently owned by company insiders.
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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