Eads & Heald Wealth Management cut its position in shares of IDEXX Laboratories, Inc. (NASDAQ:IDXX) by 8.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 5,829 shares of the company’s stock after selling 507 shares during the period. Eads & Heald Wealth Management’s holdings in IDEXX Laboratories were worth $1,605,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. boosted its holdings in IDEXX Laboratories by 100.0% in the second quarter. Cornerstone Advisors Inc. now owns 140 shares of the company’s stock worth $39,000 after acquiring an additional 70 shares in the last quarter. Monetary Management Group Inc. bought a new stake in IDEXX Laboratories in the first quarter worth $45,000. Personal Wealth Partners bought a new stake in IDEXX Laboratories in the second quarter worth $52,000. Anderson Fisher LLC bought a new stake in IDEXX Laboratories in the first quarter worth $70,000. Finally, Arrow Financial Corp bought a new stake in IDEXX Laboratories in the second quarter worth $78,000. Institutional investors own 88.05% of the company’s stock.
Several equities research analysts have commented on IDXX shares. Stifel Nicolaus boosted their target price on IDEXX Laboratories from $255.00 to $295.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Bank of America set a $300.00 target price on IDEXX Laboratories and gave the stock a “buy” rating in a report on Friday, June 21st. Guggenheim started coverage on IDEXX Laboratories in a report on Thursday, May 23rd. They issued a “buy” rating and a $276.00 target price on the stock. BidaskClub downgraded IDEXX Laboratories from a “strong-buy” rating to a “buy” rating in a report on Friday, July 26th. Finally, Zacks Investment Research raised IDEXX Laboratories from a “hold” rating to a “buy” rating and set a $271.00 target price on the stock in a report on Friday, May 3rd. Seven research analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $281.00.
IDEXX Laboratories (NASDAQ:IDXX) last announced its quarterly earnings results on Thursday, August 1st. The company reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.06. The firm had revenue of $620.10 million for the quarter, compared to the consensus estimate of $627.10 million. IDEXX Laboratories had a return on equity of 765.45% and a net margin of 17.78%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, equities analysts expect that IDEXX Laboratories, Inc. will post 4.86 EPS for the current fiscal year.
In other news, Director Sophie V. Vandebroek sold 9,044 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $263.86, for a total transaction of $2,386,349.84. Following the transaction, the director now directly owns 12,116 shares of the company’s stock, valued at $3,196,927.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Rebecca M. Henderson sold 8,790 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $241.57, for a total value of $2,123,400.30. Following the transaction, the director now directly owns 27,486 shares in the company, valued at $6,639,793.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,395 shares of company stock worth $17,732,814. Corporate insiders own 2.70% of the company’s stock.
IDEXX Laboratories 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. The company operates through Companion Animal Group; Water Quality Products; Livestock, Poultry and Dairy; and Other segments.
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