Rathbone Brothers plc purchased a new position in IDEXX Laboratories, Inc. (NASDAQ:IDXX) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 107,900 shares of the company’s stock, valued at approximately $26,938,000. Rathbone Brothers plc owned approximately 0.12% of IDEXX Laboratories as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its stake in IDEXX Laboratories by 25.3% during the second quarter. Oppenheimer & Co. Inc. now owns 2,600 shares of the company’s stock valued at $567,000 after buying an additional 525 shares in the last quarter. Fundsmith Equity Fund L.P. acquired a new stake in IDEXX Laboratories during the second quarter valued at approximately $965,278,000. Morgan Stanley raised its stake in IDEXX Laboratories by 9.5% during the second quarter. Morgan Stanley now owns 382,085 shares of the company’s stock valued at $83,271,000 after buying an additional 33,000 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in IDEXX Laboratories during the second quarter valued at approximately $2,610,000. Finally, Northern Trust Corp raised its stake in IDEXX Laboratories by 2.7% during the second quarter. Northern Trust Corp now owns 1,033,997 shares of the company’s stock valued at $225,350,000 after buying an additional 27,422 shares in the last quarter. Institutional investors and hedge funds own 91.22% of the company’s stock.
Get IDEXX Laboratories alerts:Several analysts have issued reports on the company. BidaskClub cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Tuesday. Credit Suisse Group upped their price objective on IDEXX Laboratories from $255.00 to $259.00 and gave the company an “outperform” rating in a research note on Friday, August 17th. Zacks Investment Research cut IDEXX Laboratories from a “buy” rating to a “hold” rating in a research note on Monday, August 6th. Piper Jaffray Companies upped their price objective on IDEXX Laboratories to $236.00 and gave the company an “overweight” rating in a research note on Wednesday, August 1st. Finally, Stifel Nicolaus upped 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $244.00.
In other news, CEO Jonathan W. Ayers sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, August 23rd. The stock was sold at an average price of $247.33, for a total transaction of $1,731,310.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bruce L. Claflin bought 415 shares of the stock in a transaction dated Friday, August 3rd. The shares were bought at an average cost of $242.12 per share, with a total value of $100,479.80. Following the completion of the acquisition, the director now directly owns 1,415 shares of the company’s stock, valued at approximately $342,599.80. The disclosure for this purchase can be found here. Insiders have sold 70,129 shares of company stock valued at $17,159,219 over the last ninety days. Corporate insiders own 2.56% of the company’s stock.
Shares of NASDAQ:IDXX traded up $9.05 during trading on Friday, hitting $223.16. 7,233 shares of the company traded hands, compared to its average volume of 487,884. The firm has a market capitalization of $21.62 billion, a PE ratio of 67.21, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64. IDEXX Laboratories, Inc. has a one year low of $146.09 and a one year high of $256.22. The company has a current ratio of 0.96, a quick ratio of 0.73 and a debt-to-equity ratio of -14.77.
IDEXX Laboratories (NASDAQ:IDXX) last posted its earnings results on Wednesday, August 1st. The company reported $1.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.06. The company had revenue of $580.75 million during the quarter, compared to analyst estimates of $574.68 million. IDEXX Laboratories had a negative return on equity of 703.80% and a net margin of 14.50%. The business’s revenue was up 14.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. As a group, analysts predict that IDEXX Laboratories, Inc. will post 4.18 EPS for the current fiscal year.
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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